Which of the Following Would Be Used to Record the Usage

question 65

Multiple Choice

Which of the following would be used to record the usage of indirect manufacturing resources?

• A) Raw Materials Inventory would be debited.
• B) Work in Process Inventory would be debited.
• C) Manufacturing Overhead would be debited.
• D) Manufacturing Overhead would be crediteD.
• All actual indirect manufacturing costs are accumulated in the Manufacturing Overhead account on the debit side of the account. The raw materials account would be crediteD.

Comprehend the significance of allowances for waste, spoilage, and other factors in setting standards for materials and labor.

Identify and calculate variances in direct materials (quantity and price) and direct labor (efficiency and rate).

Grasp the role of freight-in, receiving, handling costs, and discounts in calculating the standard cost of direct materials.

Recognize the role and responsibility of different departments (purchasing and production) in managing cost variances.

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Definitions:

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