question archive On June 3, Plowers Company purchased 8,000 units of raw materials at $10 per unit
On June 3, Plowers Company purchased 8,000 units of raw materials at $10 per unit
Subject:FinancePrice:4.89 Bought3
On June 3, Plowers Company purchased 8,000 units of raw materials at $10 per unit. On June 22, raw materials were requisitioned for production as follows: 2,400 units for Job 30 at $ 8 per unit and 2,600 units for Job 32 at $10 per unit. Journalize the entry on June 3 to record the purchase and on June 22 to record the requisition from the materials storeroom.
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
June 3 Materials......................................................................... 80,000
Accounts Payable..................................................... 80,000
$80,000 = 8,000 × $10.
June 22 Work in Process.............................................................. 45,200*
Materials................................................................... 45,200
*Job 30 $19,200 = 2,400 × $8
Job 32 26,000 = 2,600 × $10
Total $45,200
