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Prepare the journal entry to record the accumulation

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Reference no: EM132052559

During the first month of operation, Andy's company only purchased $12,000 of raw materials on account. Out of the total accumulated cost of raw materials, 80% is associated to direct materials while 20% is attributable to indirect materials.

a. Prepare the journal entry to record the accumulation of raw materials costs for the month.

b. Prepare the journal entry to assign raw materials to production.

Reference no: EM132052559

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