th Manufacturing purchased on account $53,000 of direct materials and $9,000 of indirect materials. Which of the following journal entries would correctly record the transaction? A. Accounts Payable 62,000 Raw Materials Inventory 62,000 B.
th Manufacturing purchased on account $53,000 of direct materials and $9,000 of indirect materials. Which of the following journal entries would correctly record the transaction? A. Accounts Payable 62,000 Raw Materials Inventory 62,000 B.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Smith Manufacturing purchased on account
journal entries would correctly record the transaction?
$53,000
of direct materials and
$9,000
of indirect materials. Which of the following |
Accounts Payable
|
62,000
|
|
|
Raw Materials Inventory
|
|
62,000
|
|
Raw Materials Inventory
|
62,000
|
|
|
Accounts Payable
|
|
62,000
|
|
Raw Materials Inventory
|
62,000
|
|
|
Finished Goods Inventory
|
|
53,000
|
|
Work−in−Process
Inventory |
|
9,000
|
|
Work−in−Process
Inventory |
53,000
|
|
|
Manufacturing Overhead
|
9,000
|
|
|
Raw Materials Inventory
|
|
62,000
|
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