{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-05T00:50:17-04:00", "answer_date": "2024-06-05 00:50:17", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2281605", "url": "\/study-help\/questions\/question-14-a-manufacturing-company-incurs-25000-in-direct-materials-2281605", "question_creation_date_js": "2024-06-05T00:50:17-04:00", "question_creation_date": "Jun 05, 2024 12:50 AM", "meta_title": "[Solved] Question 14: A manufacturing company incu | SolutionInn", "meta_description": "Answer of - Question 14: A manufacturing company incurs $25,000 in direct materials costs and $20,000 in direct labor costs during | SolutionInn", "meta_keywords": "question,14,manufacturing,company,incurs,$25,000,direct,materials,costs,$20,000,labor,production", "question_title_h1": "Question 14: A manufacturing company incurs $25,000 in direct materials costs and $20,000 in direct labor costs during a production period. Requirements: 1. Record the", "question_title": "Question 14: A manufacturing company incurs $25,000 in direct materials costs and", "question_title_for_js_snippet": "Question 14 A manufacturing company incurs $25,000 in direct materials costs and $20,000 in direct labor costs during a production period Requirements 1 Record the journal entry to recognize the purchase of direct materials 2 Post the journal entry to the Raw Materials Inventory account in the ledger 3 Calculate the total manufacturing costs incurred 4 Analyze how these costs contribute to the cost of goods sold 5 Discuss the importance of controlling direct materials and labor costs in manufacturing operations ", "question_description": "

<\/p>

<\/p>

Question 14:<\/p>

A manufacturing company incurs $25,000 in direct materials costs and $20,000 in direct labor costs during a production period.<\/p>

Requirements:<\/p>

1. Record the journal entry to recognize the purchase of direct materials.<\/p>

2. Post the journal entry to the Raw Materials Inventory account in the ledger.<\/p>

3. Calculate the total manufacturing costs incurred.<\/p>

4. Analyze how these costs contribute to the cost of goods sold.<\/p>

5. Discuss the importance of controlling direct materials and labor costs in manufacturing operations.\u00a0 <\/p>", "transcribed_text": "", "related_book": { "title": "Managerial Accounting", "isbn": "0137689454, 9780137689453", "edition": "1st Edition", "authors": "Jennifer Cainas, Celina J. Jozsi, Kelly Richmond Pope", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64af910f5a341_34291.jpg", "uri": "\/textbooks\/managerial-accounting-1st-edition-9780137689453", "see_more_uri": "" }, "free_related_book": { "isbn": "1501383655", "uri": "\/textbooks\/grave-1st-edition-978-1501383656-262256", "name": "Grave", "edition": "1st Edition" }, "question_posted": "2024-06-05 00:50:17", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/in-a-recent-year-the-most-popular-colors-for-light", "description": "In a recent year, the most popular colors for light trucks were white, 30%; black, 17%; red, 14%; silver, 12%; gray, 11%; blue, 8%; and other, 8%. 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