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Lancaster Company recorded the following transactions for the just-completed month: $46,600 in raw materials was purchased on account. $133,000 in raw materials was requisitioned for
Lancaster Company recorded the following transactions for the just-completed month:
- $46,600 in raw materials was purchased on account.
- $133,000 in raw materials was requisitioned for use in production. Of this amount, $76,400 was for direct materials and the remainder was for indirect materials.
- Total labour wages of $221,600 were incurred. Of this amount, $190,200 was for direct labour and the remainder was for indirect labour.
- Additional manufacturing overhead costs of $201,000 were incurred.
= Record the above transactions in journal entries.
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