Question 1. If the scrap material was generated in multiple jobs (and Builick records the resale value at the time of production), which account should be credited for the $1,000 in revenue?

A. MOH

B. WIP

C. FG

D. Scrap revenue

Question 2. If the scrap material was specifically generated in Job 599 (and Builick records the resale value at the time of production), which account should be credited for the $1,000 in revenue?

A. MOH

B. WIP

C. FG

D. Scrap revenue

In August, Builick sold the material for $1,050 cash.

Question 3. What's the journal entry to record the sale of the material in August?

[Select ["Cash", "Scrap Inventory", "WIP", "MOH", "Gain on sale of scrap", "Loss on sale of scrap"] ] ["Debit", "Credit"] 1,050

[ Select ["Cash", "WIP", "MOH", "Scrap Inventory", "Gain on sale of scrap", "Loss on sale of scrap"] ] ["Debit", "Credit"] 50

[ Select ["Cash", "WIP", "MOH", "Scrap Inventory", "Gain on sale of scrap", "Loss of sale of scrap"] ] ["Debit", "Credit"] 1,000

Question 4. If the 80 defective units were found in multiple jobs worked on during the period, what account should be debited for the rework costs?

A. MOH

B. WIP

C. FG

D. Loss on rework

E. Accounts payable

Question 5. If all 80 defective units were found in Job 11M, which account should be debited for the rework costs?

A. MOH

B. WIP

C. FG

D. Loss on rework

E. Accounts payable

Question 6. What's the final cost per circuit board in Job 11M if the defects were not specifically related to the job?

Question 7. What's the final cost per circuit board in Job 11M if the defects were specifically related to the job?

Problem A As part of manufacturing process, Builick Manufacturing often ended up with leftover material. During July, the company generated scrap material that could be sold for $1,000. This amount was considered significant. If the company records the resale value at the time of production