(For questions 6 and 7) On April 1, Stelter Corporation had $34,000 of raw mater

Question

(For questions 6 and 7) On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $60,000 of raw materials. During April, $70,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $7,000. Prepare journal entries to record these events. Use these journal entries to answer the following questions: 6. The debits to the Manufacturing Overhead account as a consequence of the raw materials transactions in April total: 7. The debits to the Raw Materials account for the month of April total:

Explanation / Answer

Answer 6:

Debit to manufacturing overhead account would be $7,000

Answer 7:

Debits to the raw materials account for the month of April totals : $60,000.

Hope this helps

Income Statement $     34,000 Raw Material $     34,000 Opening inventory brought forward and debited income statement Raw Material $     60,000 Cash $     60,000 Purchased additional raw material Work in process raw material $     63,000 Manufacturing overheads $       7,000 Raw Material $     70,000 Raw material inventory used for production includind the indirect material

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