The Cost of Direct Materials Used in Production Is Recorded

question 242

Multiple Choice

The cost of direct materials used in production is recorded as a:

• A)credit to manufacturing overhead.
• B)credit to work in process inventory.
• C)credit to raw materials inventory.
• D)credit to direct materials expense.

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Definitions:

Government Budget

A financial statement presenting the government's proposed revenues and spending for a financial year.

Loanable Funds

The money available for borrowing; the market wherein savers supply funds to borrowers, typically through financial intermediaries.

Interest Rates

The rate at which a borrower is charged interest for borrowing money from a lender.

Perpetuity

An annuity in which the periodic payments begin on a fixed date and continue indefinitely.