Robnett Corporation Manufactures One Product

question 36

Multiple Choice

Robnett Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: During the year, the company completed the following transactions:a. Purchased 106,900 liters of raw material at a price of $6.80 per liter.b. Used 93,760 liters of the raw material to produce 24,700 units of work in process.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.
When recording the raw materials purchases in transaction (a) above, the Cash account will increase (decrease) by:

• A) $726,920
• B) ($694,850)
• C) ($726,920)
• D) $694,850

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Definitions:

Self-control

The ability of an individual to regulate their emotions, thoughts, and behaviors in the face of temptations and impulses.

Caregivers' Demands

The physical, emotional, and logistical requirements placed on individuals providing care for others, often leading to stress and burnout.

Self-recognition

The ability to recognize oneself in a mirror or photograph, indicative of the development of self-awareness.

Cortical Development

The process of growth and maturation of the cerebral cortex, affecting cognitive and sensory functions.