This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In accounting for scrap, which of the following statements is true? (Read 77 times)

fox

  • Hero Member
  • *****
  • Posts: 540
on: Mar 6, 2021

Question 1

If scrap, common to all jobs, is returned to the storeroom, the journal entry is ________.
◦ Accounts Receivable 
 Materials Control
◦ Materials Control
 Work-in-Process Control
◦ Work-in-Process Control 
 Materials Control
◦ Materials Control
 Manufacturing Overhead Control

Question 2

In accounting for scrap, which of the following statements is true?
◦ Normal scrap is accounted for separately from abnormal scrap.
◦ In accounting for scrap, there is no distinction between the scrap attributable to a specific job and scrap common to all jobs.
◦ Initial entries to scrap accounting records are most often made in dollar terms.
◦ Scrap records not only help measure efficiency, but also help keep track of scrap, and so reduce the chances of theft.
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by fox on Mar 6, 2021

chinwesucks

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Mar 6, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly


fox

  • Member
  • Posts: 540
Reply 2 on: Mar 6, 2021
Gracias!

olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

TrUe....FaLsE TrUe....FaLsE
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
Examples of Mission Statements Examples of Mission Statements
Cost Accounting 14 Cost Accounting 14
Managerial Accounting Managerial Accounting
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: What Are Carbohydrates? Importance of Carbs & High Carb Food

For a complete list of videos, visit our video library