Identify the journal entry for indirect material return to supplier. a. Dr.Material inventory, Cr.Accounts payable b. Dr.Production overheads, Cr.Work in process inventory c. Dr.Material inventory, Cr.Work in process inventory d. Dr.Accounts payable, Cr.Material inventory

Identify the journal entry for indirect material return to supplier. a. Dr.Material inventory, Cr.Accounts payable b. Dr.Production overheads, Cr.Work in process inventory c. Dr.Material inventory, Cr.Work in process inventory d. Dr.Accounts payable, Cr.Material inventory

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 13MC: In a job order cost system, overhead applied is debited to which account? A. work in process...

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Question

6-Identify the journal entry for indirect material return to supplier.

Dr.Material inventory, Cr.Accounts payable

Dr.Production overheads, Cr.Work in process inventory

Dr.Material inventory, Cr.Work in process inventory

Dr.Accounts payable, Cr.Material inventory

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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