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bezimeni [28]
3 years ago
14

Javaprojavapro ​systems's static budget predicted production of and sales of 5555 connectors in​ august, but the company actuall

y produced and sold only 5050 connectors. direct materials were budgeted at $ 93$93 per connector. the company purchased and used direct materials that cost $ 6 comma 184$6,184. what is the journal entry for the direct materials​ purchased
Business
1 answer:
madreJ [45]3 years ago
7 0

In this problem, you are given the amount of direct materials that was purchased by the company which is $6,184.

To record the purchase of the direct materials, the journal entry would be:

Materials             $6,184

         Cash                                      $6,184

To record the usage of the direct materials to production, the entry would be:

Work in Process                                $6,184

          Materials                                             $6,184 

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Answer:

$2,014

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<em><u>using excel function </u></em>

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attached below is a screenshot of the excel function used for question 2 and it can be used for question 1 as well just change the values

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