Larned Corporation recorded the following transactions for the just completed month. a. $72,000 in raw materials...
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Larned Corporation recorded the following transactions for the just completed month. a. $72,000 in raw materials were purchased on account. b.$70,000 in raw materials were requisitioned for use in production. Of this amount, $58,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $127,000 were incurred. Of this amount, $102,800 was for direct labor and the remainder was for indirect labor. d.Additional manufacturing overhead costs of $192,000 were incurred. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 $70,000 in raw materials were requisitioned for use in production. Of this amount, $58,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. Transaction b. General Journal Debit Credit > Larned Corporation recorded the following transactions for the just completed month. a. $72,000 in raw materials were purchased on account. b.$70,000 in raw materials were requisitioned for use in production. Of this amount, $58,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $127,000 were incurred. Of this amount, $102,800 was for direct labor and the remainder was for indirect labor. d.Additional manufacturing overhead costs of $192,000 were incurred. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 $70,000 in raw materials were requisitioned for use in production. Of this amount, $58,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. Transaction b. General Journal Debit Credit >
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Related Book For
Managerial Accounting
ISBN: 978-0077522940
15th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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