Question: Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 734 pounds of PVC at $44 per pound. On October 9, Schmidt's

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 734 pounds of PVC at $44 per pound. On October 9, Schmidt's production department used 734 pounds of PVC for the 794 units of XV-1 it manufactured. Required: Prepare the journal entries to record the purchase and usage of PVC during October. (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

Use the data in Exhibit 14.5. On October 7. Schmidt Machinery Company purchased 734 pounds of PVC at 544 per pound On October 9. Schmidt's production department used 734 pounds of PVC for the 794 units of XV. 1 it manufactured. Required: Prepare the journal entries to record the purchase and usage of PVC during October. (If no entry is required for a tronsaction/event, select "No journol entry required" in the first occount field.) Journal entry worksheet 2 Note: Enter debits before credits. Standard Cost Sheet, Product XV-1 *Budgeted fixed factory overbead cost =$120,000

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