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Lancaster Company recorded the following transactions for the just completed month: a. $47,000 in raw materials was purchased on account. b. $135,000 in raw materials
Lancaster Company recorded the following transactions for the just completed month: a. $47,000 in raw materials was purchased on account. b. $135,000 in raw materials was requisitioned for use in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c. Total labour wages of $224,000 were incurred. Of this amount, $192,000 was for direct labour and the remainder was for indirect labour. d. Additional manufacturing overhead costs of $204,000 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.) Journal entry worksheet 2 3 4 > $47,000 in raw materials was purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general Journal Journal entry worksheet 1 23 4 > $135,000 in raw materials was requisitioned for use in production. Of this amount, $78,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general Journal Journal entry worksheet Total labour wages of $224,000 were incurred. Of this amount, $192,000 was for direct labour and the remainder was for indirect labour. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general Journal Journal entry worksheet
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