Soledad Corporation had $36,000 of raw materials on hand on December 1. During t

Question

Soledad Corporation had $36,000 of raw materials on hand on December 1. During the month, the Corporation purchased an additional $71,000 of raw materials. The journal entry to record the purchase of raw materials would include a credit to Raw Materials of $107,000 debit to Raw Materials of $107,000. credit to Raw Materials of $71,000. debit to Raw Materials of $71,000. Rice Corporation uses the cost formula Y = $4.800 + $0.40X for the maintenance cost, where X is machine-hours. The August budget is based on 9/XX) hours of planned machine time. What is the maintenance cost expected to be incurred during August? $1,200 $8,400 $4,800 $3,600

Explanation / Answer

Ans 13 Answer is D. Debit to Raw Materials of $ 71000 Ans 14 Y = 4800+0.40X =4800+0.40 (9000) 8400 Answer is B

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