Asked by
Tia'rei Fesagaiga-Yagin
on Oct 15, 2024
Verified
The journal entry to record the issuance of materials to production is:
A) Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000.
B) Debit Work in Process Inventory $195,000; credit Raw Materials Inventory $195,000.
C) Debit Raw Materials Inventory $195,000; credit Work in Process Inventory $195,000.
D) Debit Work in Process Inventory $165,000; debit Factory Overhead $30,000; credit Raw Materials Inventory $195,000.
E) Debit Finished Goods Inventory $195,000; credit Raw Materials Inventory $195,000.
Raw Materials Inventory
The total cost of all the components used to manufacture a product that a company has in stock but has not yet used in production.
Factory Overhead
Factory overhead refers to all the indirect costs associated with manufacturing, excluding direct labor and direct materials, such as utility costs and maintenance expenses.
- Chronicle transactions through the use of journal entries within a job order costing structure.
- Differentiate between direct and indirect expenses in job order costing systems.
Verified Answer
HC
Learning Objectives
- Chronicle transactions through the use of journal entries within a job order costing structure.
- Differentiate between direct and indirect expenses in job order costing systems.
Related questions
Juarez Builders Incurred $285,000 of Labor Costs for Construction Jobs ...
The Journal Entry to Record the Factory Payroll Is ...
The Journal Entry to Record the Issuance of Materials to ...
During September at Renfro Corporation, $65,000 of Raw Materials Were ...
Fisher Corporation Uses a Predetermined Overhead Rate Based on Direct ...