Leak Enterprises LLC Recorded the Following Transactions for the Just

question 125

Multiple Choice

Leak Enterprises LLC recorded the following transactions for the just completed month. The company had no beginning inventories.
(1) Raw materials purchased for cash, $96,000
(2) Direct materials requisitioned for use in production, $69,000
(3) Indirect materials requisitioned for use in production, $22,000
(4) Direct labor wages incurred and paid, $129,000
(5) Indirect labor wages incurred and paid, $16,000
(6) Additional manufacturing overhead costs incurred and paid, $121,000
(7) Manufacturing overhead costs applied to jobs, $163,000
(8) All of the jobs in process were completed.
(9) All of the completed jobs were shipped to customers.
(10) Any underapplied or overapplied overhead for the period was closed out to Cost of Goods Sold.
Enter the transactions in the T-accounts below and then answer the following questions.

-The ending balance in the Raw Materials account is closest to:

• A) $22,000
• B) $5,000
• C) $74,000
• D) $27,000

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Definitions:

Subducting Lithosphere

The portion of the lithosphere that is being forced down into the mantle at a subduction zone.

Ridge Push

A tectonic process associated with the movement of the Earth's lithosphere, where an elevated ridge pushes an adjacent plate away due to gravitational forces.

Topographically High Ridge

An elongated area of high ground, usually sharper than a hill, often formed by tectonic processes or erosion.

Earth's Magnetic Field

The geomagnetic field that extends from the Earth's interior into space, where it meets the solar wind, a stream of charged particles emanating from the sun.