Answer the Following Question(s)using the Information Below

question 42

Multiple Choice

Answer the following question(s) using the information below.
Walton Industries uses backflush costing.For March,there were no beginning inventories of direct materials and no beginning or ending work-in-process.Conversion costs is the only indirect manufacturing cost category currently used.Journal entries are recorded when actual costs are incurred,at completion of finished goods,and at sale of finished goods,under backflush costing.

-Which of the journal entries properly records conversion costs at Walton Industries?

Recognize the role of cultural values in child-rearing practices and infant care.

Identify characteristics of high-quality day care and its importance in child development.

Develop an awareness of milestones in early emotional development and the capacity for self-recognition.

Understand the developmental milestones and behaviors typical in infancy and early childhood.

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Definitions:

Relevant Range

The range of activity within which assumptions about variable and fixed cost behavior are valid.

Variable Cost

Expenses that change in proportion to the volume of goods or services produced by a business.

Activity

An event that causes the consumption of overhead resources in an organization.

Cost Driver

A factor that causes a change in the cost of an activity, such as machine-hours or labor hours, used in determining pricing and profitability.