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Author Question: River Falls Manufacturing uses a normal cost system and had the following data available for 2018: ... (Read 60 times)

savannahhooper

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on: Mar 6, 2021

Question 1

Payment of the factory rent would require debits and credits to which accounts?
◦ Debit: Work-in-Process Control account 
Credit: Cash
◦ Debit: Manufacturing Overhead Control account 
Credit: Cash
◦ Debit: Cost of Goods Sold account
Credit: Prepaid Rent
◦ Debit: Factory Depreciation account
Credit: Accumulated Depreciation Control

Question 2

River Falls Manufacturing uses a normal cost system and had the following data available for 2018:



The journal entry to record the materials placed into production would include a ________.
◦ credit to Direct Materials Inventory for $84,000
◦ debit to Direct Materials Inventory for $150,000
◦ credit to WIP Inventory for $84,000
◦ debit to WIP Inventory for $150,000
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by savannahhooper on Mar 6, 2021

Laurenleakan

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Reply #1 on: Mar 6, 2021
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savannahhooper

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Reply 2 on: Mar 6, 2021
Great answer, keep it coming :)

atrochim

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Reply 3 on: Yesterday
:D TYSM

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