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Lyrx [107]
3 years ago
12

Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventor

y balance was $22,000, and the materials used to complete jobs during the month were $141,000 of direct materials and $13,000 of indirect materials. What amount will Andrew debit to Work in Process Inventory for the month of March
Business
1 answer:
maw [93]3 years ago
5 0

Answer:

Journal entry for raw material used will be :

Dr. Work in process Inventory $141,000

Cr. Raw materials Inventory $141,000

Explanation:

The beginning Raw Materials Inventory balance = $22,000

The materials used to complete jobs during the month = $141,000 of direct materials and $13,000 of indirect materials

Journal entry for raw material used will be :

Dr. Work in process Inventory $141,000

Cr. Raw materials Inventory $141,000

The form of inventory is modified but the company's assets remain in the form of Work in Process. Assets are debited at all times.

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