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Paramax Corp. had these transactions for their past month: Please compute the journal entries for this transactions. $90,000 in raw materials were purchased on cash.

  1. Paramax Corp. had these transactions for their past month: Please compute the journal entries for this transactions.

  2. $90,000 in raw materials were purchased on cash.

  3. Raw materials were requisitioned for use in production. $76,000 was for direct materials, and $9,500 for indirect materials.

  4. Labour costs of were incurred. $100,500 was for direct labour, and $10,000 was for indirect labour.

  5. Manufacturing overhead costs of $187,500 .

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