2024 – Larned Corporation recorded the following transactions for the just completed month a 80 000 in raw materials were purchased
Accounting – 2024
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Larned Corporation recorded the following transactions for the just completed month. |
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a. |
$80,000 in raw materials were purchased on account. |
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b. |
$71,000 in raw materials were requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials. |
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c. |
Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. |
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d. |
Additional manufacturing overhead costs of $175,000 were incurred. |
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Required: |
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Record the above transactions in journal entries. |
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