on April 6, Almerinda Company purchased on account 60,500 units of raw materials at $13.00 per...

on April 6, Almerinda Company purchased on account 60,500 units of raw materials at $13.00 per unit. OnApr 21, raw materials were requisitioned for production as follows: 26,000 units for job 50 at $9.00 per unit and 26,800 units for job 51 at $13.00 per unit. journalize the entry on April 6 to record the purchase and on April 21 to record the requisition from the materials storeroom.

Solutions

Expert Solution

April 6:

Amount = 60,500 × $13 = $786,500

Raw material inventory is debit, since this is an asset and increasing.

Accounts payable is credit, since this purchase is on-account and creates liability.

Journal

Date	Account titles and explanations	Ref.	Debit	Credit
April 6	Raw material inventory		$786,500
	Accounts payable			$786,500
	To record on-account material purchase

April 21:

Total amount = (26,000 × $9) + (26,800 × $13) = $234,000 + $348,400 = $582,400

Work-in-process is debit, since it is charged to production.

Raw material inventory is credit, since this an asset and decreasing.

Journal

Date	Account titles and explanations	Ref.	Debit	Credit
April 21	Work-in-process		$582,400
	Raw material inventory			$582,400
	To record material requisitioned for production of job 50 and job 51.

ekkarill92 answered 9 months ago

Next > < Previous

Related Solutions

Raw materials purchased on account, $210,000. Raw materials used in production, $191,000 ($152,800 direct materials and...

Raw materials purchased on account, $210,000. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials). Accrued direct labor cost of $50,000 and indirect labor cost of $21,000. Depreciation recorded on factory equipment, $104,000. Other manufacturing overhead costs accrued during October, $130,000. The company applies manufacturing overhead cost to production using a predetermined rate of $7 per machine-hour. A total of 76,300 machine-hours were used in October. Jobs costing $513,000 according to their job cost sheets were...

Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were requisitioned to the factory....

Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. 3. Factory labor costs incurred were $59,900, of which $51,000 pertained to factory wages payable and $8,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,000 was direct labor and $5,900 was indirect labor. 5. Manufacturing overhead costs incurred on account were $80,500. 6. Depreciation on...

Journal Entries a. Raw materials were purchased on account, $60,000. b. Raw materials were requisitioned for...

Journal Entries a. Raw materials were purchased on account, $60,000. b. Raw materials were requisitioned for use in production, $52,000. $50,000 direct and $2,000 indirect. c. Accrual of factory wages $60,000; and maintenance workers for the factory $15,000. d. Accrued factory costs utilities $21,000, equipment rental $16,000 and cable, internet and phone factory costs $3,000. e. Accrual of property taxes on the factory, $13,000. f. Expiration of prepaid medical insurance on factory workers, $12,000 g. Depreciation was recorded on the...

Crawford Corporation incurred the following transactions. Purchased raw materials on account $46,300. Raw materials of $36,000...

Crawford Corporation incurred the following transactions. Purchased raw materials on account $46,300. Raw materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. Factory labor costs incurred were $59,900, of which $51,000 pertained to factory wages payable and $8,900 pertained to employer payroll taxes payable. Time tickets indicated that $54,000 was direct labor and $5,900 was indirect labor. Manufacturing overhead costs incurred on account were $80,500. Depreciation...

Crawford Corporation incurred the following transactions: Purchased raw materials on account $46,300. Raw Materials of $36,000...

Crawford Corporation incurred the following transactions: Purchased raw materials on account $46,300. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. Factory labor costs incurred were $59,900, of which $51,000 pertained to factory wages payable and $8,900 pertained to employer payroll taxes payable. Time tickets indicated that $54,000 was direct labor and $5,900 was indirect labor. Manufacturing overhead costs incurred on account were $80,500. Depreciation...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,400. 2. Raw Materials...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,400. 2. Raw Materials of $41,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,000 was classified as indirect materials. 3. Factory labor costs incurred were $65,200, of which $51,300 pertained to factory wages payable and $13,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,600 was direct labor and $10,600 was indirect labor. 5. Manufacturing overhead costs incurred...

Torre Corporation incurred the following transactions. 1. Purchased raw materials on account $46,300. 2. Raw materials...

Torre Corporation incurred the following transactions. 1. Purchased raw materials on account $46,300. 2. Raw materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classifi ed as indirect materials. 3. Factory labor costs incurred were $55,900, of which $51,000 pertained to factory wages payable and $4,900 pertained to employer payroll taxes payable. 4. Time tickets indicated that $50,000 was direct labor and $5,900 was indirect labor. 5. Manufacturing overhead costs...

Manning Corporation incurred the following transactions. 1. Purchased raw materials on account $52,000. 2. Raw Materials...

Manning Corporation incurred the following transactions. 1. Purchased raw materials on account $52,000. 2. Raw Materials of $45,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,500 was classified as indirect materials. 3. Factory labor costs incurred were $87,000. Time tickets indicated that $81,500 was direct labor and the rest was indirect labor 4. Overhead costs incurred on account were $79,500. 5. Factory depreciation was $13,000. 6. Administrative salaries accrued were $25,000. 7. Manufacturing...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $54,500. 2. Raw Materials...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $54,500. 2. Raw Materials of $38,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,000 was classified as indirect materials. 3. Factory labor costs incurred were $62,500, of which $50,500 pertained to factory wages payable and $12,000 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,700 was direct labor and $7,800 was indirect labor. 5. Manufacturing overhead costs incurred...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,100. 2. Raw Materials...

Crawford Corporation incurred the following transactions. 1. Purchased raw materials on account $49,100. 2. Raw Materials of $44,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,900 was classified as indirect materials. 3. Factory labor costs incurred were $61,900, of which $51,400 pertained to factory wages payable and $10,500 pertained to employer payroll taxes payable. 4. Time tickets indicated that $55,300 was direct labor and $6,600 was indirect labor. 5. Manufacturing overhead costs incurred...

Subjects