Which of the following journal entries correctly records the current month's activity where $88,000 of direct material and $38,000 of indirect materials were used in the production process? Raw materials inventory 126,000 88,000 Goods in process inventory Factory overhead 38,000 126,000 Raw materials inventory 126,000 38,000 88,000 126,000 88,000 38,000 126,000 126,000 126,000 O Goods in process O Goods in process Factory overhead Cash O Goods in process Factory overhead Raw materials inventory Raw materials inventory Cash

Which of the following journal entries correctly records the current month's activity where $88,000 of direct material and $38,000 of indirect materials were used in the production process? Raw materials inventory 126,000 88,000 Goods in process inventory Factory overhead 38,000 126,000 Raw materials inventory 126,000 38,000 88,000 126,000 88,000 38,000 126,000 126,000 126,000 O Goods in process O Goods in process Factory overhead Cash O Goods in process Factory overhead Raw materials inventory Raw materials inventory Cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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