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Larned Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $78,000 in raw materials
Larned Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $78,000 in raw materials were used in production of this amount. $65,000 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $120,000 were paid in cash. Of this amount. $102,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $191,000 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
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