Homework Answers
Answer:
Journal Entries
| Transaction | General Journal | Debit | Credit |
| 1. | Raw material inventory | 181,000 | |
| cash | 181,000 | ||
| 2. | Work in process inventory | 150,000 | |
| Raw materials inventory | 150,000 | ||
| 3. | Factory overhead | 12,000 | |
| Raw materials inventory | 12,000 |
Explanation:
| $ | |
| Beginning raw materials inventory | 26,000 |
| Add: Purchases | 181,000 |
| Raw materials available | 207,000 |
| Less: Ending raw materials inventory | 45,000 |
| total raw materials used | 162,000 |
| Less: Indirect materials used | 12,000 |
| Cost of direct materials used | 150,000 |
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