When Bob, a wealthy real estate investor, saw an inner city kid wearing a heavy gold chain with a medallion around his neck, Bob wanted the same for himself. Bob's behavior is best explained by the ________

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

When determining costs of jobs, how does a company account for indirect materials?

a. It is added to work in process as used. b. It remains part of raw materials inventory. c. It is transferred out of raw materials into manufacturing overhead when used. d. It is transferred out of raw materials into work in process as used.