During June, Briganti Corporation purchased $84,000 of raw materials on credit to add to its raw materials
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Question:
During June, Briganti Corporation purchased $84,000 of raw materials on credit to add to its raw materials inventory. A total of $69,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $9,000 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.)
a) Record the purchase of materials.
b) Record the materials used in production.
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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