Answered

IDNLearn.com: Where your questions are met with thoughtful and precise answers. Our platform offers comprehensive and accurate responses to help you make informed decisions on any topic.

During September at Renfro Corporation, $65,000 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 $8,000. The journal entry to accurately record this requisition would be: Multiple Choice Dr. MOH $57,000 Dr. WIP $8,000 Cr. Raw Materials $65,000 Dr. WIP $65,000 Cr. MOH $8,000 Cr. Raw Materials $57,000 Dr. WIP $57,000 Dr. MOH $8,000 Cr. Raw Materials $65,000 Dr. WIP $57,000 Dr. MOH $8,000 Cr. Direct Materials $65,000

Sagot :

Ayokenny2001idn

Answer:

Debit WIP $57,000

Debit MOH $8,000

Credit raw materials $65,000

Explanation:

With regards to the above,

Indirect material used = $8,000 will be debited to manufacturing overhead [MOH]

Direct materials used =$65,000 - $8,000 = $57,000 hence will be debited to work in process account [WIP]

Raw materials will be credited by $65,000

The correct answer would therefore be;

Dr WIP $57,000

Dr MOH $8,000

Cr raw materials $65,000

We appreciate your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. For dependable answers, trust IDNLearn.com. Thank you for visiting, and we look forward to assisting you again.