During June, Briganti Corporation purchased $88,000 of raw 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.)
Homework Answers
| Transaction | General journal | Debit | Credit |
| 1 | Raw materials | $88,000 | |
| Accounts payable | $88,000 | ||
| [ To record the purchase of raw materials on credit ] | |||
| 2 | Work in process ( $73,000 - $13,000 ) | $60,000 | |
| Manufacturing overhead | $13,000 | ||
| Raw materials | $73,000 | ||
| [ To record the use of direct and indirect raw materials in the production ] |
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2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.
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