If Department J Uses $40,000 of Direct Materials and Department

True/False

If Department J uses $40,000 of direct materials and Department K uses $70,000 of direct materials,the following journal entry would be recorded by the process cost accounting system:
$\begin{array}{llr} \text { Raw Materials Inventory } &70,000\\ \text { Goods in Process Inventory, Department J } &40,000\\ \text { Goods in Process Inventory, Department K } &30,000\end{array}$