Pl show the calculations. On August 1, Shead Corporation had $33,700 of raw materials on hand....
Pl show the calculations.
On August 1, Shead Corporation had $33,700 of raw materials on hand. During the month, the company purchased an additional $75,800 of raw materials. During August, $79,000 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 $4,000. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The credits to the Raw Materials account for the month of August total:
a. $75,800
b. $109,500
c. $75,000
d. $79,000
Which is correct?
Homework Answers
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Pl show the calculations.
On August 1, Shead Corporation had $33,700 of raw materials on
hand....
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materials on credit to add to its raw materials inventory. A total
of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
$13,000 of indirect materials.
Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
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