Norman Manufacturing reports the following data for the month
Purchases of raw materials, on account $ 55,250
Materials requisitions:
Direct materials 49,750
Indirect materials 3,700
Labor incurred (not yet paid):
Direct labor 51,000
Indirect labor 2,500
Journalize the entries relating to materials and labor. Omit explanations.
What will be an ideal response
Raw Materials Inventory 55,250
Accounts Payable 55,250
Work-In-Process Inventory 49,750
Manufacturing Overhead 3,700
Raw Materials Inventory 53,450
Work-In-Process Inventory 51,000
Manufacturing Overhead 2,500
Wages Payable 53,500
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Harris, Inc
had the following balances and transactions during 2017: Beginning Merchandise Inventory as of January 1, 2017 160 units at $70 March 10 Sold 80 units June 10 Purchased 175 units at $77 October 30 Sold 175 units What would be reported for Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the last-in, first-out inventory costing method are used? A) $19,075 B) $13,475 C) $5,600 D) $17,850
A learning conversation is an attempt to complete which of the following?
A) work together to resolve a problem B) understand another person's point of view and feelings C) share your point of view and feelings D) all of the above