Revision Exercises for the Final Exam Exercise (1) Liwa Corporation recorded the following transactions for the just completed month: 1- AED 190,000 in raw materials were purchased on account. 2- AED 142,000 in raw materials were requisitioned for use in production. Of this amount, AED 130,000 was for direct materials and the remainder was for indirect materials. 3- Total labor wages of AED 133,000 were incurred and paid. Of this amount, AED 110,000 was for direct labor remainder was for indirect labor 4- Additional manufacturing overhead cost of AED 435,000 were incurred. All were on account. 5- Manufacturing overhead is applied to the production based on direct labor cost at the rate of 150%. Required: Record the above transactions in journal entries