A materials requisition slip showed that direct materials requested were $63,000

Question

A materials requisition slip showed that direct materials requested were $63,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is a. Work In Process Inventory.................................................... 63,000 Raw Materials Inventory................................................ 63,000 b. Direct Materials...................................................................... 63,000 Indirect Materials.................................................................... 9,000 Work in Process Inventory........................................... 72,000 c. Manufacturing Overhead....................................................... 72,000 Raw Materials Inventory................................................ 72,000 d. Work In Process Inventory.................................................... 63,000 Manufacturing Overhead....................................................... 9,000 Raw Materials Inventory................................................ 72,000
As of December 31, 2012, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2012, there was $2,000 of materials on hand. During the year, the company purchased $325,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during 2012? a. $312,000

Explanation / Answer

refer the link

http://www.chegg.com/homework-help/questions-and-answers/december-31-2012-stand-industries-2-500-raw-materials-inventory-beginning-2012-2-000-mater-q3441470

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.