1. Raw Materials Inventory Journal Entries.The balance in Clay Company's raw materials inventory account was $45,000 at the beginning of April. Raw materials purchased during the month totaled $55,000. Clay used $48,000 in direct materials and $14,000 in indirect materials for the month.
2. Required:
3. Prepare separate journal entries to record the following items:
4. Raw materials purchased for the month, assuming all purchases were on account
5. The transfer ofdirectmaterials into production
6. The transfer ofindirectmaterials into production
7. Prepare a T-account for raw materials inventory and include the beginning balance for April. Post the appropriate items from the journal entries in partato this account, and calculate the ending balance in raw materials inventory.