Question

Materials purchased on account during the month amounted to $190,000. Materials requisitioned and placed in production totaled $156,000. The entry to record the transaction for materials requisitioned by the production department is to
Debit______________
Credit_____________

Answer 1

The entry to record the transaction for materials requisitioned by the production department is to

Debit WIP $156,000

Credit Materials $156,000

Organization accountants should account for direct and indirect materials one after the other. The magazine entry for direct substances, this is, substances that can be without delay traced to merchandise, is a debit to the paintings in technique and a credit to the raw materials inventory accounts.

To file materials used in manufacturing, a debit for the value of raw substances is made to the WIP inventory account and a credit score is made to the raw substances account. Exertion fees are spilt between direct and indirect labor.

Learn more about transactions here brainly.com/question/1016861

#SPJ4