Morion Hat Manufacturing made the following charge purchases on February 4 of the current year. Felt $5,687; Ribbon $1,234; Straw $6,723; Dye (for the straw) $39; Thread $47;
Various plastic fruits, flowers, etc. $179; and Glue $28. Assume that all items purchased were requisitioned for production during the year. Complete one journal entry for all purchases and one summary journal entry dated February 20 for the requisitioning of those materials into production.
Also, explain the internal controls applied to safeguard raw materials.
Note: Only the dye, glue, and thread are considered overhead. Some students may put the various plastic fruits, flower, etc. into indirect materials. If so the direct material would be $13,644 and the total for indirect materials would be $293.

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The Answer of Morion Hat Manufacturing made the following charge purchases on February 4 of the current year. Felt $5,687; Ribbon $1,234; Straw $6,723; Dye (for the straw) $39; Thread $47;
Various plastic fruits, flowers, etc. $179; and Glue $28. Assume that all items purchased were requisitioned for production during the year. Complete one journal entry for all purchases and one summary journal entry dated February 20 for the requisitioning of those materials into production.
Also, explain the internal controls applied to safeguard raw materials.
Note: Only the dye, glue, and thread are considered overhead. Some students may put the various plastic fruits, flower, etc. into indirect materials. If so the direct material would be $13,644 and the total for indirect materials would be $293.

Morion Hat Manufacturing Made the Following Charge Purchases on February