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Orange Corp., a high-technology company, utilizes the following procedures for recording materials and transferring them to work in process. n receipt of raw materials by
Orange Corp., a high-technology company, utilizes the following procedures for recording materials and transferring them to work in process. n receipt of raw materials by stores, the storekeeper prepares a stock-in report with part number and quantities, files the original by date, and sends a copy to accounting. (2) The inventory accounting elerk uscs the stock-in report to post the perpetual inventory records usi ventory records using standard costs and files the stock-in report by date. requisitions, which show part number and quantity, are prepared by the manufacturing clerk (3) Raw materials and approved by the supervisor of manufact original is filed by job order. uring. A copy of the requisition is sent to accounting, and the accounting clerk reviews the requisitions for completeness, transfers the cost from raw materials to work in process, and files the requisitions by date d: Prepare a flowchart that describes the client's system of recording raw materials and Require transferring them to work in process
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