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Wilmington Company manufactures various machined parts to customer specifications. For the most recent month, Wilmington Company recorded the following transactions: Thank you in advance! Raw
Wilmington Company manufactures various machined parts to customer specifications. For the most recent month, Wilmington Company recorded the following transactions: Thank you in advance!
- Raw materials of $79,000 were purchased on account.
- Raw materials of $77,000 were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials.
- Total labor wages of $122,500 were paid in cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor.
- Depreciation incurred on factory equipment was $192,000.
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