Question

Firebaugh Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on account $ 520,000 Raw materials (all direct) requisitioned for use in production $ 467,000 What is the journal entry to record raw materials used in production

Answer 1

Dr Work In Process 467,000

Cr Raw Materials 467,000

Step-by-step explanation:

Preparation of the journal entry to record raw materials used in production

Based on the information given if the Raw materials that was requisitioned for use in the production was the amount of $ 467,000 which means that the journal entry to record raw materials used in production will be :

Dr Work In Process 467,000

Cr Raw Materials 467,000