Question
Firebaugh Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on
Firebaugh Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year:
| Raw materials purchased on account | $ | 520,000 |
| Raw materials (all direct) requisitioned for use in production | $ | 467,000 |
What is the journal entry to record raw materials used in production?
Multiple Choice
| Raw Materials | 467,000 | |
| Work In Process | 467,000 | |
| Raw Materials | 520,000 | |
| Work In Process | 520,000 | |
| Work In Process | 520,000 | |
| Raw Materials | 520,000 | |
| Work In Process | 467,000 | |
| Raw Materials | 467,000 | |
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele
10th edition
9780077515904, 007802529X, 77515900, 978-0078025297
