Entries for Product Cost Flow The following transactions occurred during January 2016 for Richards Manufacturing Company Jan. Acquired $3,000 of material on account that will be used to produce product for resale. 5 11 Requisitioned $2,500 of material for use as direct material in the factory 16 Completed the manufacturing of products with a total product cost of $11,000 and transferred them to the warehouse. Record these transactions in general journal form. Assume that Richards Manufacturing Company uses the perpetual inventory system. General Journal Debit Credit Description Date an.5 Jan. 11 Jan.16 Check