issued the following materials and supplies. Purchases Issues from Storer
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- Azzarelli, Corp makes picture frames and reports the following for the month of May: Description Amount Purchases of materials on account 53,330 Subcategory,Materials requisitions: Direct Materials 49,730 Indirect Materials 1,280 Subcategory,Labor costs incurred (not yet paid): Direct Materials 24,520 Indirect Materials 1,920 Journalize the entries at the end of the month to record the transactions relating to materials and labor.Journal Date Description Debit Credit May 31 May 31 May 31 May 31 May 31 May 31 May 31 May 31Smith Manufacturing purchased on account $53,000 of direct materials and $9,000 of indirect materials. Which of the following journal entries would correctly record the transaction? A. Accounts Payable 62,000 Raw Materials Inventory 62,000 B. Raw Materials Inventory 62,000 Accounts Payable 62,000 C. Raw Materials Inventory 62,000 Finished Goods Inventory 53,000 Work−in−Process Inventory 9,000 D. Work−in−Process Inventory 53,000 Manufacturing Overhead 9,000 Raw Materials Inventory 62,000Recording materials transactionsPrepare a journal entry to record each of the following materialstransactions:a. Total materials purchased on account during the monthamounted to $200,000.b. Direct materials requisitioned for the month totaled $175,000.c. Indirect materials requisitioned during the month totaled$12,000.d. Direct materials returned to the storeroom from the factoryamounted to $2,500.e. Total materials returned to vendor during the month amountedto $1,800.f. Payment during the month for materials purchased on accounttotaled $165,000
- Issuance of Materials On May 7, Jernigan Company purchased on account 530 units of raw materials at $23 per unit. During May, raw materials were requisitioned for production as follows: 159 units for Job 200 at $21 per unit and 164 units for Job 305 at $23 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank. May 31Journalize the following transactions for Carla Vista Company. (a) Purchased 5,900 units of raw materials on account for $10,930. The standard cost was $11,800. (b) Issued 5,600 units of raw materials for production. The standard units were 5,740. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) Raw Materials Inventory Materials Price Variance Accounts Payable Work in Process Inventory Materials Quantity Variance Raw Materials Inventory Debit 11800 Credit 10930Issuance of Materials On May 7, Salinger Company purchased on account 720 units of raw materials at $19 per unit. During May, raw materials were requisitioned for production as follows: 317 units for Job 200 at $15 per unit and 266 units for Job 305 at $19 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 fill in the blank 91b49dfc3022030_2 fill in the blank 91b49dfc3022030_3 fill in the blank 91b49dfc3022030_5 fill in the blank 91b49dfc3022030_6 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank. May 31
- During June, Briganti Corporation purchased $83,000 of raw materials on credit to add to its raw materials inventory. A total of $68,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $8,000 of indirect materials. Required: Prepare journal entries to record the purchase of materials and their use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the purchase of materials. Note: Enter debits before credits. Transaction 1 General Journal Debit CreditPrepare journal entries to record the production activities. Purchased $80,000 of raw materials on credit.Issuance of Materials On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank. May 7 fill in the blank a41f3905c060fe1_2 fill in the blank a41f3905c060fe1_3 fill in the blank a41f3905c060fe1_5 fill in the blank a41f3905c060fe1_6 Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank. May 31 fill in the blank 1e9f01facf80054_2 fill in the blank 1e9f01facf80054_3 fill in the blank 1e9f01facf80054_5 fill in the blank 1e9f01facf80054_6
- Title Prepare journal entries to record the following production activities. 1. Purchased $80,000 of raw.. Description Prepare journal entries to record the following production activities. 1. Purchased $80,000 of raw materials on credit. 2. Used $42,000 of direct materials in the Roasting department. 3. Used $22,500 of indirect materials in production.8) Mohsen Steel Ltd maintains its stores ledger on the FIFO. Following is a summary of the receipts and issues of raw materials during the month of May 2019: May 2019 01 Opening balance 300 units @ Rs. 15 per unit Material issue , 100 units. Material purchase, 400 units @ 25 per unit. Material issues, 500 units. Material requested form suppliers , 300 units Material purchase 200 units @ 29 per unit. Material issues , 150 units. Material purchase, 170 units @ 33 per unit. Material issue, 200 units. Material in hand 100 units. 06 08 13 15 22 25 27 29 31 Requirements: 1. Calculate Cost of goods issues? 2. Calculate Value of closing stock?Issuance of materials On May 7, Bergan Company purchased on account 10,000 units of raw materials at 8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at 8 per unit and 1,480 units for Job 305 at 5 per unit. Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
