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15 June, 23:43

In January, Harlan, Inc. production supervisor requisitioned raw materials for production as follows: Job 1 $700, Job 2 $900, Job 3 $400, and general factory use, $520. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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  1. 16 June, 02:58
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    Work in progress inventory A/c Dr $2,000

    Manufacturing overhead A/c Dr $520

    To Raw material inventory A/c $2,520

    (Being the raw material used is recorded)

    Explanation:

    The journal entry is shown below:

    Work in progress inventory A/c Dr $2,000

    Manufacturing overhead A/c Dr $520

    To Raw material inventory A/c $2,520

    (Being the raw material used is recorded)

    The computations are shown below:

    For Work in progress inventory

    = Job 1 + Job 2 + Job 3

    = $700 + $900 + $400

    = $2,000

    Raw material inventory

    = Work in progress inventory + manufacturing overhead

    = $2,000 + $520

    = $2,520
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