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In: Accounting

Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201...

Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 Aluminum 500 $88,700 202 Plastic 503 27,600 203 Rubber 504 3,650 204 Glue Indirect 2,250 205 Steel 510 38,750 Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the Chart of Accounts for exact wording of account titles. 3 lines for information on journal entry

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Journal Entry
Date Particulars Debit Credit
31-Dec Work in Process - Job 500 Dr $88,700.00
Work in Process - Job 503 Dr $27,600.00
Work in Process - Job 504 Dr $3,650.00
Manufacturing overhead Dr $2,250.00
Work in Process - Job 510 Dr $38,750.00
            To Raw Material inventory - Aluminium $88,700.00
            To Raw Material inventory - Plastic $27,600.00
            To Raw Material inventory - Rubber $3,650.00
            To Raw Material inventory - Glue $2,250.00
            To Raw Material inventory - Steel $38,750.00
(Being direct and indirect material issued to production)

ekkarill92 answered 1 year ago
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