ECONOMICS

Detailed explanation-1: -Using a process costing system, the journal entry to record the requisition of direct materials to be used in production includes credit to Raw Materials Inventory. Explanation: Raw materials inventory is an asset for the company hence the raw materials inventory is credited as it decreases the raw materials inventory.

Detailed explanation-2: -Requisitioning Materials The journal entry for direct materials, that is, materials that can be directly traced to products, is a debit to the work in process and a credit to the raw materials inventory accounts.

Detailed explanation-3: -The entry to record the indirect material is to debit manufacturing overhead and credit raw materials inventory.

Detailed explanation-4: -Answer: a) a credit to materials inventory. the issuance of direct material to production is a debit in work in process inventory and credit materials inventory.

Detailed explanation-5: -The work-in-process inventory account is debited with the direct materials and direct labor costs incurred in the factory as well as the overhead costs applied to the goods being manufactured.