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22) Raw Materials Inventory Journal Entries. The balance in Sedona Company's raw materials inventory account was $110,000 at the beginning of...

22) Raw Materials Inventory Journal Entries. The balance in Sedona Company's raw materials inventory account was $110,000 at the beginning of September. Raw materials purchased during the month totaled $50,000. Sedona used $17,000 in direct materials and $8,000 in indirect materials for the month.

Required:

a.                  Prepare separate journal entries to record the following items:

  1. Raw materials purchased for the month, assuming all purchases were on account
  2. The transfer of direct materials into production
  3. The transfer of indirect materials into production

b.                 P r e p a r e a T-account for raw materials inventory and include the beginning balance for September. Post the appropriate items from the journal entries in part a to this account, and calculate the ending balance in raw materials inventory.

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