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Larned Corporation recorded the following transactions for the just completed month. a. $73,000 in raw materials were purchased on account. b. $71,000 in raw materials
Larned Corporation recorded the following transactions for the just completed month. a. $73,000 in raw materials were purchased on account. b. $71,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $128,500 were paid in cash. Of this amount, $104,200 was for direct labor and the remainder was for indirect labor. d. Depreciation of $199,000 was incurred on factory equipment. 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.) View transaction list Journal entry worksheet $73,000 in raw materials were purchased on account. Note: Enter debits before credits. General Journal Debit Credit Transaction a. Record entry View general journal Clear entry Journal entry worksheet $71,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry View general journal Clear entry Journal entry worksheet Total labor wages of $128,500 were paid in cash. Of this amount, $104,200 was for direct labor and the remainder was for indirect labor. Note: Enter debits before credits. General Journal Debit Credit Transaction c. Record entry View general journal Clear entry Journal entry worksheet Depreciation of $199,000 was incurred on factory equipment. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry View general journal Clear entry
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