Entries for Product Cost Flow The following transactions occurred during February 2016 for Thompson Manufacturing Company: Feb. 10 Acquired $10,000 of material on account that will be used to produce product for resale. 11 Requisitioned $8,000 of material for use as direct material in the factory. 16 Completed the manufacturing of products with a total product cost of $48,000 and transferred them to the warehouse. Record these transactions in general journal form. Assume that Thompson Manufacturing Company uses the perpetual inventory system. General Journal Description Date Debit Credit Feb. 10 Feb. 11 Feb.16