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On February 1, Manwill Corporation had $24,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During

On February 1, Manwill Corporation had $24,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During February, $54,000 of raw materials were requisitioned from the storeroom for use in production. The debits entered in the Raw Materials account during the month of February total:

Question 27 options:

A) $60,000
B) $84,000
C) $24,000
D) $54,000

Epolito Corporation incurred $87,000 of actual Manufacturing Overhead costs during September. During the same period, the Manufacturing Overhead applied to Work in Process was $89,000. The journal entry to record the incurrence of the actual Manufacturing Overhead costs would include a:

Question 28 options:

A) debit to Work in Process of $89,000
B) credit to Manufacturing Overhead of $87,000
C) credit to Work in Process of $89,000
D) debit to Manufacturing Overhead of $87,000

During October, Beidleman Inc. transferred $52,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $55,000. The journal entries to record these transactions would include a:

Question 29 options:

A) credit to Finished Goods of $52,000
B) credit to Work in Process of $52,000
C) credit to Cost of Goods Sold of $55,000
D) debit to Finished Goods of $55,000

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