In January, Vaughn company requisitions raw materials for production as follows: Job 1 $930, Job 2 $1,200, Job 3 $770, and general factory use $700.Prepare a summary journal entry to record raw materials used.
In January, Vaughn company requisitions raw materials for production as follows: Job 1 $930, Job 2 $1,200, Job 3 $770, and general factory use $700.
Prepare a summary journal entry to record raw materials used.
Material used directly to Jobs shall be charged as direct material and for such requisitions Work in process inventory of respective Jobs shall be debited.
For indirect material used in the production, it shall be charged as manufact...
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