The following information relates to the manufacturingoperations of O\'Shaunessy

Question

The following information relates to the manufacturingoperations of O'Shaunessy mfg Co. during the month of March. Thecompany uses job odrering cost.
Prepare a general journal entries to summarize: a. purchases of direct materials during the month amount to$59,700 ( all purchases were made on account) b. materials requisitions issued by the Production Departmentduring the month total $56,200. The following information relates to the manufacturingoperations of O'Shaunessy mfg Co. during the month of March. Thecompany uses job odrering cost.
Prepare a general journal entries to summarize: a. purchases of direct materials during the month amount to$59,700 ( all purchases were made on account) b. materials requisitions issued by the Production Departmentduring the month total $56,200.

Explanation / Answer

(b) Work in Process Inventory

$56,200

                     Material Inventory

$56,200

(To record cost of direct materials placed into Production)

(a)   MaterialsInventory $59,700                               Accounts Payable $59,700 (To record the purchases of direct materials)

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