Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $22,000, and the materials

Andrew Industries purchased $165,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory 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 journal entry should Andrew use to account for direct materials used in March: Multiple Choice Debit Work in Process inventory $141.000, credit Raw Materials Inventory $141,000 Debit Work in Process inventory $141,000 credit Accounts Payable $141,000 Debit Raw Materials Inventory $141.000, credit Accounts Payable $141.000 Debit Finished Goods Inventory $22.000, credit Raw Materials Inventory $22,000 Debit Work in Process Inventory $141,000; credit Raw Materials Inventory $141,000. Debit Work in Process Inventory $141,000; credit Accounts Payable $141,000. Debit Raw Materials Inventory $141,000; credit Accounts Payable $141,000. Debit Finished Goods Inventory $22,000; credit Raw Materials Inventory $22,000. Debit Raw Materials Inventory $153,000; credit Work in Process Inventory $153,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Scoreboard Your Practice 7 Numbers To Understand Your Design Firms Financials

Authors: Rick J Linley

1st Edition

1039138985, 978-1039138988

More Books

Students also viewed these Accounting questions

Question

=+ 4. Why should policymakers think about incentives?

Answered: 1 week ago

Question

=+ 2. What is the opportunity cost of seeing a movie?

Answered: 1 week ago

Question

=+ what roles should government play in them ?

Answered: 1 week ago