Robinson Corporation constructs new homes. Assume that Robinson uses a job costi
ID: 2557317 • Letter: R
Question
Robinson Corporation constructs new homes. Assume that Robinson uses a job costing system. During July 2018, the following transactions occurred: Robinson purchased $4,500 of lumber on account. Robinson used $3,750 of lumber in production and incurred 50 hours of direct labor hours at $15 per hour. Depreciation of $1,500 on equipment used to build new houses was recorded. A house that was completed last period at a cost of $150,000 was sold for $180,000 in cash. ? The journal entry to record the requisition of lumber for Robinson would include a a. debit to Work-in-Process of $3,750. b. credit to Finished Goods of $3,750. c. debit to Work-in-Process of $4,500. d. debit to Materials Inventory of $3,750.
Explanation / Answer
Journal entry record the requisition of lumber
so answer is a) debit to work in process of $3750
Date accounts & explanation debit credit Work in process 3750 Raw material inventory 3750Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.