Question

The following journal entry was recorded by Epic Inc: Work in Process            $94,000            Raw Materials      &

The following journal entry was recorded by Epic Inc:

Work in Process            $94,000

           Raw Materials                     $94,000

Which of the following statements is correct regarding this journal entry?

Multiple Choice

  • This journal entry shows that $94,000 of products were sold.

  • This journal entry shows that $94,000 of direct materials were called into the production process.

  • This journal entry shows that $94,000 in products were completed during the period.

  • This journal entry shows that $94,000 of raw materials were purchased during the period.

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