Prepare journal entries for the following: a) Purchased $60,000 in raw material on account. b) Requisitioned...

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Prepare journal entries for the following: a) Purchased $60,000 in raw material on account. b) Requisitioned into production $50,000 direct material & $2,000 indirect material. c) Recorded $60,000 direct labor & 15,000 indirect labor on account. d) Recorded depreciation on factory machinery$95,000. e) Applied OH at 150% of DL$. Show computation. f) Goods of $158,000 were completed. g) Goods costing $118,500 were sold. Prepare journal entries for the following: a) Purchased $60,000 in raw material on account. b) Requisitioned into production $50,000 direct material & $2,000 indirect material. c) Recorded $60,000 direct labor & 15,000 indirect labor on account. d) Recorded depreciation on factory machinery$95,000. e) Applied OH at 150% of DL$. Show computation. f) Goods of $158,000 were completed. g) Goods costing $118,500 were sold.

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Step 13 A journal is a book of record in which all the day today transaction of a business are recor... View the full answer