On November 1, Arvelo Corporation Had $32,000 of Raw Materials

question 193

Multiple Choice

On November 1, Arvelo Corporation had $32,000 of raw materials on hand. During the month, the company purchased an additional $78,000 of raw materials. During November, $95,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3,000. Prepare journal entries to record these events. Use those journal entries to answer the following questions:
-The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:

• A) credit to Manufacturing Overhead of $62,000
• B) debit to Work in Process of $60,000
• C) credit to Work in Process of $60,000
• D) debit to Manufacturing Overhead of $62,000

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Definitions:

Selfishly

Acting with primary concern for one's own interest or benefit, often at the expense of others.

Overstating

The action of exaggerating or making something seem more important or significant than it actually is.

Competition

Conflict management style that stresses winning a conflict at the expense of the other person involved.

Threats

Statements or actions intended to cause someone to feel in danger of harm or loss.