Question

During June, Mushrif Corporation purchased SAR 76,000 of raw materials on credit to add to its...

During June, Mushrif Corporation purchased SAR 76,000 of raw materials on credit to add to its raw materials inventory. A total of SAR 81,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included SAR 5,000 of indirect materials. Required: Prepare journal entries to record the purchase of materials and their use in production. [1 Mark]

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
During June, Briganti Corporation purchased $97,000 of raw materials on credit to add to its raw...
During June, Briganti Corporation purchased $97,000 of raw materials on credit to add to its raw materials inventory. A total of $82,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw materials included $22,000 of indirect materials. Required: Prepare journal entries to record the purchase of materials and their use in production.
On August 1, Shead Corporation had $35,000 of raw materials on hand. During the month, the...
On August 1, Shead Corporation had $35,000 of raw materials on hand. During the month, the company purchased an additional $56,000 of raw materials. During August, $69,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The debits to the Manufacturing Overhead account as a consequence of...
1. Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month,...
1. Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month, the company purchased an additional $68,000 of raw materials. During May, $92,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $5,000. The debits to the Work in Process account as a consequence of the raw materials transactions in May total: 2. Desrevisseau Inc., a manufacturing company, has...
Larned Corporation recorded the following transactions for the just completed month. $76,000 in raw materials were...
Larned Corporation recorded the following transactions for the just completed month. $76,000 in raw materials were purchased on account. $74,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $124,500 were paid in cash. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. Depreciation of $197,000 was incurred on factory equipment. Record the above transactions in journal...
23. On November 1, Arvelo Corporation had $34,000 of raw materials on hand. During the month,...
23. On November 1, Arvelo Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $76,000 of raw materials. During November, $91,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $3,400. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The credits to the Raw Materials account for the month...
Prepare journal entries to record the following production activities. Purchased $30,000 of raw materials on credit....
Prepare journal entries to record the following production activities. Purchased $30,000 of raw materials on credit. Used $17,000 of direct materials in the Roasting department. Used $21,500 of indirect materials in production. Journal entry worksheet Record materials purchased on credit. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Journal entry worksheet Record direct materials used in production. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Journal entry worksheet Record indirect materials used in production....
Larned Corporation recorded the following transactions for the just completed month. $81,000 in raw materials were...
Larned Corporation recorded the following transactions for the just completed month. $81,000 in raw materials were purchased on account. $79,000 in raw materials were used in production. Of this amount, $71,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $117,500 were paid in cash. Of this amount, $101,200 was for direct labor and the remainder was for indirect labor. Depreciation of $195,000 was incurred on factory equipment. Required: Record the above transactions in...
Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the...
Gullett Corporation had $26,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $75,000 of raw materials. The journal entry to record the purchase of raw materials would include a: Multiple Choice debit to Raw Materials of $101,000 credit to Raw Materials of $75,000 debit to Raw Materials of $75,000 credit to Raw Materials of $101,000
Lancaster Company recorded the following transactions for the just-completed month: $45,300 in raw materials was purchased...
Lancaster Company recorded the following transactions for the just-completed month: $45,300 in raw materials was purchased on account. $126,500 in raw materials was requisitioned for use in production. Of this amount, $71,200 was for direct materials and the remainder was for indirect materials. Total labour wages of $213,800 were incurred. Of this amount, $184,350 was for direct labour and the remainder was for indirect labour. Additional manufacturing overhead costs of $191,250 were incurred. Required: Record the above transactions in journal...
Gullett Corporation had $29,000 of raw materials on hand on November 1. During the month, the...
Gullett Corporation had $29,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $78,000 of raw materials. The journal entry to record the purchase of raw materials would include a: