Prepare journal entry for the purchase of raw materials

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Reference no: EM132634275

Question 1. Prepare journal entry for the purchase of raw materials using a perpetual and periodic method.

Question 2. The direct flow of raw materials from the warehouse to the factory is accounted for as a transfer of costs from raw materials to goods in process. Make a journal.

Question 3. Proof of demand for raw materials is also used to issue indirect raw materials and equipment. If not used in the factory, the equipment used is charged to Marketing or Administrative Expenses. Keep a journal if used in the factory by charging to the Factory Overhead Controller account.

Reference no: EM132634275

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