Agostino, Inc. uses a just-in-time costing system. During the month, Agostino incurred $300,000 as direct labor and $9,000 as overhead. Which of the following is the correct journal entry to record the conversion costs?
A)
Conversion Costs 309,000
Wages Payable, Accumulated Depreciation, etc. 309,000
B)
Conversion Costs 309,000
Wages Payable 309,000
C)
Manufacturing Overhead 309,000
Conversion Costs 309,000
D)
Conversion Costs 309,000
Accounts Payable 309,000
A
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O'Brien Coatings Company uses the indirect method to prepare its statement of cash flows
Refer to the following information for 2017: The beginning balance in the Cash account was $2,900. Net cash provided by operating activities: $40,000 Net cash used for investing activities: $(25,500 ) Net cash provided by financing activities: $1,700 The statement of cash flows will show ________. A) ending cash of $16,200 B) total net cash flows of positive $65,500 C) total net cash flows of negative $16,200 D) ending cash of $19,100
The concept of Batch Production is not relevant to a service organization.
a. true b. false