22
QS 16-23 (Algo) Recording costs of materials LO P3
Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased $69,000 of raw materials on credit. Its
Mixing department requisitioned $51,000 of direct materials for use in production.
Prepare journal entries to record its purchase of raw materials and requisition of direct materials.
10
points
01:35:28
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References
Journal entry worksheet
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Record purchase of raw materials inventory on account.
Note: Enter debits before credits.
Transaction
a
General Journal
Debit
Credit
Record entry
Clear entry
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