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The following transactions occurred during the month of October: October 5 Raw materials totaling $15,000 were purchased on account. October 8 Direct materials totaling $6,000
The following transactions occurred during the month of October: October 5 Raw materials totaling $15,000 were purchased on account. October 8 Direct materials totaling $6,000 were placed in production. October 10 Indirect materials totaling $1,000 were placed in production. Required: a. Set up T-accounts for raw materials inventory, work-in-process inventory, manufacturing overhead, and accounts payable. b. Use the T-accounts established in part a to record the transactions for October.
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