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Starr Company reports the following information for August. Raw materials purchased on account Direct materials used in produ

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journal entries for the following events

Transaction journal entries debit credit
1 Raw material inventory 76200
Accounts payable 76200
( Record of purchase of Raw material)
2 work in process 48000
Raw material inventory 48000
(Record of direct material used in production)
3 work in process 15350
Factory wages payable 15350
(Record of direct labour used in production)
4. Work in process 18420
Factory overhead (note) 18420
(Record of applied overhead)

NOTE

appiled overhead=direct labour cost *120%

15350*120%=18420

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