Question
On March 1, Metevier Corporation had $37,000 of raw materials on hand. During the month, the company purchased an additional $62,000 of raw materials. During
On March 1, Metevier Corporation had $37,000 of raw materials on hand. During the month, the company purchased an additional $62,000 of raw materials. During March, $69,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000.
The journal entry to record the purchase of raw materials would include a: A. credit to Raw Materials of $62,000 B. credit to Raw Materials of $99,000 C. debit to Raw Materials of $99,000 D. debit to Raw Materials of $62,000
The journal entry to record the requisition from the storeroom would include a: A. debit to Work in Process of $69,000 B. debit to Work in Process of $63,000 C. debit to Raw Materials of $69,000 D. credit to Manufacturing Overhead of $6,000
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