2 On January 1, Schaf Corporation had $23,000 of raw materials on hand. During t

Question

2 On January 1, Schaf Corporation had $23,000 of raw materials on hand. During the month, the company purchased an additional $54,000 of raw materials. During January, $50,000 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 $6,000. The journal entry to record the requisition from the storeroom would include a: 00-29:07 Multiple Choice debit to Work in Process of $50,000 debit to Raw Materials of $50,000 credit to Manufacturing Overhead of $6,000 debit to Work in Process of $44,000

Explanation / Answer

Journal entry of requisition of raw material :

so answer is d) Debit to work in process of $44,000

Date accounts & explanation debit credit Work in process 44000 Manufacturing overhead 6000     Raw material inventory 50000

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