Question: Starr Company reports the following information for August. Raw materials purchased on account ........ $76,200 Direct materials used in production ....... $48,000 Factory wages earned

Starr Company reports the following information for August.
Raw materials purchased on account ........ $76,200
Direct materials used in production ....... $48,000
Factory wages earned (direct labor) ...... $15,350
Overhead rate ................ 120% of direct labor cost
Prepare journal entries to record the following events.
1. Raw materials purchased.
2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.

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