Prepare the journal entries to record the purchase of clay

Reference no: EM131973989

Problem

Sandberg Pottery and Ceramics produces unique decorative ceramic figurines for home use. Sandberg recently purchased a large amount of clay for use in its production process.

Consider the following transactions for Sandberg Pottery and Ceramics.

Nov 4 Sandberg purchased 1, 900 pounds of clay for $1.60 per pound on account. The clay is to be used to produce 135 clay horses for a customer.

Nov 6 The mixing department filed a materials requisition requesting that 800 pounds of clay be released for production. The materials will be used to produce medium birdbaths for use in gardens. A customer has ordered 35 birdbaths for immediate delivery. The clay, which cost $1.60 per pound, was delivered to the mixing department on November 6.

Prepare the journal entries to record the purchase of clay on November 4 and the receipt of clay to the mixing department on November 6. Use Smart Entry when selection lists are not available.

Reference no: EM131973989

Questions Cloud

Explore the advantages and disadvantages of voip : For this discussion, explore the advantages and disadvantages of VoIP, and how they factor into business concerns in today's networking environments.

List three possible negative effects on the environment : List three possible negative effects on the environment that can result from computer use and describe one way to lessen each effect.

What would be samson companys inventory amount : What would Samson Company's inventory amount be on December 31, 2015 if the FIFO method was used?

List three possible negative physical effects : List three possible negative physical effects that can result from computer user and describe one way to lessen each effect.

Prepare the journal entries to record the purchase of clay : Prepare the journal entries to record the purchase of clay on November 4 and the receipt of clay to the mixing department on November 6.

Display favorite original photographs : Assume that you have created a Web site to display your favorite original photographs. Is the site and/or your photographs protected by copyright law?

Write the corresponding number in the blank : Match each term with its related example, and write the corresponding number in the blank to the left of each example.

How much rental expense can sam deduct for the villa : Sam owns a vacation villa in Hawaii. This year he used the villa for 10 days and rented out the villa. How much rental expense can Sam deduct for the villa?

What is the annual effective interest rate of return : Sam buys a TEO bond with a face value of $1,000 for $900. What is the annual effective interest rate of return if Sam holds the bond to maturity?

User Account

All Pages