On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month,...
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On April 1, Stelter Corporation had $34,000 of raw materials on hand. During the month, the company purchased an additional $60,000 of raw materials. During April, $70,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $7,000. Prepare journal entries to record these events. Use those journal entries to answer the following questions: The debits to the Manufacturing Overhead account as a consequence of the raw materials transactions in April total:
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