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During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,000 of raw materials
During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,000 of raw materials indirectly as factory supplies and uses $32,000 of raw materials as direct materials. Prepare journal entries to record these three transactions. A Record the raw materials purchase for $50,000, paid in cash.
B Record the cost of raw materials used indirectly in production.
C Record the cost of raw materials used directly in production.
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