The Following Accounts Are Maintained by the Sprague Manufacturing Company

question 48

Essay

The following accounts are maintained by the Sprague Manufacturing Company in its general ledger: Materials, Work in Process, Factory Overhead, and Accounts Payable. The materials account had a debit balance of $40,000 on November 1. A summary of material transactions for November shows:
(1)
Materials purchased on account, $62,000
(2)
Direct materials issued, $58,500
(3)
Direct materials returned to storeroom, $1,200
(4)
Indirect materials issued, $3,600
(5)
Indirect materials returned to storeroom, $550
(6)
Materials on hand were $200 less than the stores ledger balance
a.Prepare journal entries to record the materials transactions.
b.Post the journal entries to T-accounts.
c.What is the balance of the materials account on November 30?

Comprehend the concept and characteristics of attention.

Grasp the role and location of the suprachiasmatic nucleus in regulating internal biological clocks.

Recognize the significance of sunlight and environmental cues in maintaining circadian rhythms.

Identify the continuous and changing nature of consciousness.

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Definitions:

Digestive Activity

The complex process of breaking down food into absorbable components in the digestive system.

Salivary Activity

The production and release of saliva from the salivary glands in the mouth, which aids in digestion and helps maintain oral health.

Sympathetic Nervous System

Part of the autonomic nervous system that activates the body's rapid involuntary response to dangerous or stressful situations, often referred to as "fight or flight" response.

Parasympathetic Nervous System

A division of the autonomic nervous system that promotes relaxation and functions under normal, non-stressful conditions.