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german
3 years ago
6

During June, Briganti Corporation purchased $81,000 of raw materials on credit to add to its raw materials inventory. A total of

$66,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $6,000 of indirect materials. Required:
Prepare journal entries to record the purchase of materials and their use in production.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Business
1 answer:
-BARSIC- [3]3 years ago
5 0

Answer:

Explanation:

The journal entries are shown below:

1. Raw material inventory A/c Dr $81,000

           To Accounts payable A/c  $81,000

(Being the raw material is purchased on account)

2. Work in process inventory A/c Dr $66,000

   Manufacturing overheads A/c Dr $6,000

              To  Raw material inventory A/c Dr $72,000

(Being the use of the material is recorded)

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3 years ago
Read 2 more answers
Stock has a 50% chance of producing a 46% return, a 30% chance of producing a 10% return, and a 20% chance of producing a -28% r
lakkis [162]

Answer:

the firm expected rate of return is 20.4%

Explanation:

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3 years ago
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4 years ago
When a person purchases stock in a company, he is in reality loaning money to the company.?
tia_tia [17]
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4 years ago
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In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following c
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Answer:

POAR= 170% of the direct material cost.

Explanation:

Explanation:

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