Business, 12.03.2020 20:50, kodiebclay

Robinson Corporation constructs new homes. Assume that Robinson uses a job costing system. During July 2018, the following transactions occurred: Robinson purchased $4,500 of lumber on account. Robinson used $3,750 of lumber in production and incurred 50 hours of direct labor hours at $15 per hour. Depreciation of $1,500 on equipment used to build new houses was recorded. A house that was completed last period at a cost of $150,000 was sold for $180,000 in cash. ? The journal entry to record the requisition of lumber for Robinson would include a a. debit to Work-in-Process of $3,750. b. credit to Finished Goods of $3,750. c. debit to Work-in-Process of $4,500. d. debit to Materials Inventory of $3,750.

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Robinson Corporation constructs new homes. Assume that Robinson uses a job costing system. During Ju...