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During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,000 of raw materials indirectly as factory supplies and uses $32,000 of raw materials as direct materials. Prepare journal entries to record these three transactions.

Respuesta :

mltn1980

Answer:

Please see details below:

Explanation:

Raw materials inventory    $ 50.000

                 Cash      $50.000

*this entry register the stock of the raw materials in the accounting system.

Factory Supplies      $12.000

                 Raw materials inventory    $12.000

*Some raw materials can be used as intermediate goods..

Finished Goods      $12.000

                 Raw materials inventory    $12.000

*Some raw materials can be used as Finished goods..

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