BIU - BA $ % 9 06-08 Insert 2 Delete Format Cells Font Conditional Format as Cell Formatting Table Styles Styles Alignment Number - X fx I Weighted average costing F G H I J K L M N MATERIALS LEDGER Description: Rubber gaskets Materials Ledger Account No. 11216 BALANCE RECEIVED Rec. Rep. te No. Quantity Unit Price Amount ISSUED Mat. Req. No. Quantity Unit Price Amount Quantity Unit Price Amount ventory comparisons Cost Transferred to Work in Process Cost of Ending Inventory Inventory Method FO 2 E2-7 P2-1 P2-5 O iw e Bm art a search E2-5 LO3 Recording materials transactions Prepare a journal entry to record each of the following materials transactions: a. Total materials purchased on account during the month amounted 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 factory amounted to $2,500. e. Total materials returned to vendor during the month amounted to $1,800. f. Payment during the month for materials purchased on account totaled $165,000