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  3. entries for product cost flow record the following

Entries for Product Cost Flow Record the following transactions that occurred during April for Boyd...

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Accounting

Entries for Product Cost Flow
Record the following transactions that occurred during April for Boyd Manufacturing Corporation, which uses the perpetual inventory system:
Apr. 21 Transferred $200,000 of completed goods from the factory to the warehouse.
25 Requisitioned $112,500 of materials for use in the factory as direct materials and $25,000 for indirect materials.
28 Sold goods costing $75,000 for $125,000 on account.
\table[[General Journal],[Date,Description,Debit,Credit],[Apr.21,hat(),0,0],[hat(),0,0],[To record the transfer of completed goods.,,],[Apr.25,Work in process inventory,0,0],[hat(),0,0],[hat(),0,0],[To record the requisitioning of material.,,],[Apr.28,hat(),0,0],[hat(),0,0],[To record the sale of goods on account.,,],[Apr.28,hat(),0,0],[hat(),0,0],[To record the cost of goods sold.,,]]
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