QS 19-4 Raw materials journal entries LO P1 During the current month, a company

Question

QS 19-4 Raw materials journal entries LO P1 During the current month, a company that uses job order costing purchases $94,000 in raw materials for cash. It then uses $19,000 of raw materials indirectly as factory supplies and uses $66,600 of raw materials as direct materials. Prepare journal entries to record these three transactions 5 points View transaction list 00:45:33 Journal entry worksheet 3 Record the raw materials purchase for $94,000, paid in cash Note: Enter debits before credits. Debit Credit General Journal Raw materials inventory 94,000 Cash 94,000

Explanation / Answer

Raw materials inventory 94000            Cash 94000 Factory overhead 19000           Raw materials inventory 19000 Work in process inventory 66600           Raw materials inventory 66600

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