During the current month, a company that uses job order costing purchases $50,000 in raw materials...

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During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12

business accounting

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Answer 1

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Answer #1

Journal Entries:

Account title and Explanation	Debit	Credit
Raw materials	$50,000
Cash		$50,000
[To record purchase of raw materials for cash]

Manufacturing overhead	$12,000
Raw materials		$12,000
[To record raw materials used indirectly]

Work-in process	$32,000
Raw materials		$32,000
[To record raw materials used directly]

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Answer 2

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During the current month, a company that uses job order costing purchases $58,000 in raw materials...

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During the current month, a company that uses job order costing purchases $50,000 in raw materials...

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