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Upsilon Co. determined that microchips costing $9,000 were used to produce its X1700 document cameras...

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Question

Accounting

Upsilon Co. determined that microchips costing $9,000 were used to produce its X1700 document cameras during the most recent month. Which of the following statements is false with respect to the use of these microchips?

Multiple Choice

  • The Supplies account was debited for $9,000.

  • Cost of goods sold was debited for $9,000.

  • Operating expenses increased $9,000.

  • Operating income decreased $9,000.

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