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On November 1, Arvelo Corporation had $32,500 of raw materials on hand. During the month, the company purchased an additional $77,500 of raw materials. During
On November 1, Arvelo Corporation had $32,500 of raw materials on hand. During the month, the company purchased an additional $77,500 of raw materials. During November, $94,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3,100. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The credits to the Raw Materials account for the month of November total: Multiple Choice O $110,000 0 $94,000 0 $77,500 0 $32,500 The Assembly Department started the month with 25,600 units in its beginning work in process inventory. An additional 310,600 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 30,600 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month? Multiple Choice 336,200 366,800 315,600 305,600 Raider Corporation uses the weighted average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. Percent Complete with Respect to Conversion 10% Beginning work in process inventory Transferred in from the prior department during January Completed and transferred to the next department during January Ending work in process inventory Units 9,500 82,000 81,800 9,700 80% The Molding Department's cost per equivalent unit for conversion cost for January was $3.37. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January? Multiple Choice $22,124.70 $32,689.00 0 0 0 $6,537.80 $26,151.20 Deidoro Company has provided the following data for maintenance cost: Machine hours Maintenance cost Prior Year 14,100 $28,200 Current Year 17,000 $31,970 Maintenance cost is a mixed cost with variable and fixed components. The fixed and variable components of maintenance cost are closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $9,870 per year; $1.300 per machine hour $22,100 per year; $.769 per machine hour $28,200 per year; $1.300 per machine hour $9,870 per year; $.769 per machine hour
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