A firm that has implemented JIT had the following transactions:
-What will be the entry to record material placed into production using the traditional approach?

Question

A firm that has implemented JIT had the following transactions:  
-What will be the entry to record material placed into production using the traditional approach?

Quizplus · Accepted Answer

With the traditional approach, material placed into production is recorded through a debit to Work-in-Process Inventory and a credit to Materials Inventory. Therefore, the entry would be Work-in-Process Inventory 40,000 and Materials Inventory 40,000. Choice D is the correct option.

A Firm That Has Implemented JIT Had the Following Transactions