A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory 26, 100 101, 100 Beginning Purchases Debit View transaction list Ending 26,700 All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used. Journal entry worksheet < 1 2 3 Record direct materials used. Note: Enter debits before credits. Transaction 2 Credit General Journal 84,480 Direct materials used 16,100 Indirect materials used Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A manufacturer's Raw Materials Inventory account appears as follows:
Raw Materials Inventory
26, 100
101, 100
Beginning
Purchases
Debit
View transaction list
Ending
26,700
All raw materials purchases are made on credit. Prepare journal entries to record the:
1. Purchase of raw materials.
2. Direct materials used.
3. Indirect materials used.
Journal entry worksheet
< 1 2 3
Record direct materials used.
Note: Enter debits before credits.
Transaction
2
Credit
General Journal
84,400 Direct materials used
16, 100 Indirect materials used
Debit
Credit
Transcribed Image Text:A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory 26, 100 101, 100 Beginning Purchases Debit View transaction list Ending 26,700 All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used. Journal entry worksheet < 1 2 3 Record direct materials used. Note: Enter debits before credits. Transaction 2 Credit General Journal 84,400 Direct materials used 16, 100 Indirect materials used Debit Credit
A manufacturer's Raw Materials Inventory account appears as follows:
Raw Materials Inventory
26, 100
101, 100
Beginning
Purchases
Debit
2. Direct materials used.
3. Indirect materials used.
Ending
26,700
All raw materials purchases are made on credit. Prepare journal entries to record the:
1. Purchase of raw materials.
View transaction list
Journal entry worksheet
<
1 2 3
Record the purchase of raw materials on credit.
Note: Enter debits before credits.
Transaction
Credit
84,400 Direct materials used
16, 100 Indirect materials used
General Journal
Debit
Credit
Transcribed Image Text:A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory 26, 100 101, 100 Beginning Purchases Debit 2. Direct materials used. 3. Indirect materials used. Ending 26,700 All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. View transaction list Journal entry worksheet < 1 2 3 Record the purchase of raw materials on credit. Note: Enter debits before credits. Transaction Credit 84,400 Direct materials used 16, 100 Indirect materials used General Journal Debit Credit
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