Robinson Corporation Constructs New Homes

question 30

Multiple Choice

Robinson Corporation constructs new homes. Assume that Robinson uses a job costing system. During July 2018, the following transactions occurred: Robinson purchased $4,500 of lumber on account.
Robinson used $3,750 of lumber in production and incurred 50 hours of direct labor hours at $15 per hour.
Depreciation of $1,500 on equipment used to build new houses was recorded.
A house that was completed last period at a cost of $150,000 was sold for $180,000 in cash.
The journal entry to record the requisition of lumber for Robinson would include a

• A)debit to Work-in-Process of $4,500.
• B)debit to Materials Inventory of $3,750.
• C)credit to Finished Goods of $3,750.
• D)debit to Work-in-Process of $3,750.

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A form of love characterized by deep affection, commitment, and intimacy, as opposed to passion.

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Adhering to political ideologies that favor traditional values, limited government, and free-market principles.

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Tending to talk a lot or enjoy engaging in conversation.

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The ability to learn, understand, and apply knowledge and skills, and to adapt to new situations through reasoning and problem-solving.