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In-s [12.5K]
3 years ago
9

Entry for Issuing Materials Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 A

luminum 500 $88,700 202 Plastic 503 27,600 203 Rubber 504 3,650 204 Glue Indirect 2,250 205 Steel 510 38,750 Journalize the entry to record the issuance of materials. For a compound transaction, if an amount box does not require an entry, leave it blank.
Business
1 answer:
Svetradugi [14.3K]3 years ago
5 0

Answer:

The journal entry is as follows:

Work in process A/c                 Dr. $158,700

Manufacturing overhead A/c   Dr. $2,250

To Raw material inventory                               $160,950      

(To record the issuance of materials)

Workings:

  • Work in process is debited with direct material:

        =  88,700 + 27,600 + 3,650 + 38,750

        = $158,700

  • Manufacturing overhead debited with indirect material cost = $2,250

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