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Larned Corporation recorded the following transactions for the just completed month. $81,000 in raw materials were purchased on account. $79,000 in raw materials were used

Larned Corporation recorded the following transactions for the just completed month.

  1. $81,000 in raw materials were purchased on account.
  2. $79,000 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials.
  3. Total labor wages of $125,000 were paid in cash. Of this amount, $102,900 was for direct labor and the remainder was for indirect labor.
  4. Depreciation of $194,000 was incurred on factory equipment.

Required:

Record the above transactions in journal entries.

1. $81,000 in raw materials were purchased on account.

2.$79,000 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials

3. Total labor wages of $125,000 were paid in cash. Of this amount, $102,900 was for direct labor and the remainder was for indirect labor.

4. Depreciation of $194,000 was incurred on factory equipment.

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