Question

On december 1, mogro corporation had $26,000 of raw materials on hand. during the month, the corporation purchased an additional $60,000 of raw materials. during december, $62,000 of raw materials were requisitioned from the storeroom for use in production. the debits entered in the raw materials account during the month of december total:

Answer 1

The debits entered in the raw materials account during the month of December totals $60,000. Since that was the only transactions that in that month was used to purchase new raw materials it is shown as a debit to the raw materials account. The $26,000 already on hand and the $62,000 were also on hand but used for production, not purchased.