The Cost of Indirect Materials Used in the Factory Is

question 259

Multiple Choice

The cost of indirect materials used in the factory is recorded as a

• A) debit to Manufacturing Overhead.
• B) debit to Work in Process Inventory.
• C) debit to Raw Materials Inventory.
• D) debit to Direct Materials Expense.

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Definitions:

NAICS

The North American Industry Classification System, a standard used by federal statistical agencies for classifying business establishments for statistical analysis.

Derived Demand

Demand for a factor of production or intermediate good that occurs as a result of the demand for another good or service.

Wood Pallets

Wood pallets are flat transport structures made of wood that support goods in a stable fashion while being lifted by a forklift, pallet jack, front loader, or other jacking device.

Raw and Semifinished

Materials or products that have undergone partial processing but are not yet complete products ready for sale to the end consumer.