QUESTION 19

1. JHS Inc. has reported the following data:

   Purchases of Raw Material $5,400

   Freight In 150

   Property Tax 950

   Ending Inventory of Raw Materials 1,700

   Beginning Inventory of Raw Materials 3,300

   Assuming that all materials used are direct materials, compute the amount of direct materials used.

   	a.	$8,300
   	b.	$7,500
   	c.	$7,150
   	d.	$7,350

1 points

QUESTION 20

1. Which of the following statements about internal reports is not true?

   	a.	Internal reports may discuss prospective events.
   	b.	The content of internal reports may extend beyond the double-entry accounting system.
   	c.	Most internal reports are summarized rather than detailed.
   	d.	Internal reports may show all amounts at market values