Homework Answers
1. Raw material purchases account Dr 89000
To vendor account. 89000
Being the purchases of raw material of 89000
2.No journal entries required.
3.
Direct labour cost account Dr 102900
Indirect labour cost account Dr 4100
To cash account. 107000
Being the direct labour cost 102900 and indirect labour cost 4100 paid in cash
4. Depreciation account Dr 193000
Factory equipment account. 193000
Depreciation charged on factory equipment
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Exercise 3-1 Prepare Journal Entries (L03-1) Larned Corporation recorded the following transactions for the just completed...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $79,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $111,500 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $127,000 were paid in cash. Of this amount, $102,600 was for direct labor and 32 the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required:...
Larned Corporation recorded the following transactions for the just completed month. $89,000 in raw materials were...
Larned Corporation recorded the following transactions for the
just completed month.
$89,000 in raw materials were purchased on account.
$87,000 in raw materials were used in production. Of this
amount, $78,000 was for direct materials and the remainder was for
indirect materials.
Total labor wages of $128,000 were paid in cash. Of this
amount, $104,100 was for direct labor and the remainder was for
indirect labor.
Depreciation of $197,000 was incurred on factory
equipment.
Required:
Record the above transactions in...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials were purchased on account. b. $81,000 in raw materials were used in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,500 were paid in cash. Of this amount, $101,400 was for direct labor and the remainder was for indirect labor. d. Depreciation of $195,000 was incurred on factory equipment. Required: Record...
Thank you Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in...
Thank you
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account. b. $69,000 in raw materials were used in production. Of this amount, $57,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $113,500 were paid in cash Of this amount, $100,100 was for direct labor and the remainder was for indirect d. Depreciation of $194,000 was incurred on factory equipment. labor...
please answer soon Larned Corporation recorded the following transactions for the just completed month. a. $75,000...
please answer soon
Larned Corporation recorded the following transactions for the just completed month. a. $75,000 in raw materials were purchased on account. b. $73,000 in raw materials were used in production of this amount. $64.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $121,000 were paid in cash. Of this amount, $101,700 was for direct labor and the remainder was for indirect labor. d. Depreciation of $196,000 was incurred on factory...
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $60,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $119,000 were paid in cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $192,000 was incurred on factory equipment Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $90,000 in raw materials...
Larned Corporation recorded the following transactions for the just completed month. a. $90,000 in raw materials were purchased on account b. $88,000 in raw materials were used in production of this amount, $76,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $199,000 was incurred on factory equipment. Required: Record...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount. $62.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. $72,000 in raw materials were...
Larned Corporation recorded the following transactions for the
just completed month.
$72,000 in raw materials were purchased on account.
$70,000 in raw materials were used in production. Of this
amount, $57,000 was for direct materials and the remainder was for
indirect materials.
Total labor wages of $117,500 were paid in cash. Of this
amount, $103,500 was for direct labor and the remainder was for
indirect labor.
Depreciation of $199,000 was incurred on factory
equipment.
Required:
Record the above transactions in...
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $79,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $111,500 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $56,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $127,000 were paid in cash. Of this amount, $102,600 was for direct labor and 32 the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required:...
Larned Corporation recorded the following transactions for the
just completed month.
$89,000 in raw materials were purchased on account.
$87,000 in raw materials were used in production. Of this
amount, $78,000 was for direct materials and the remainder was for
indirect materials.
Total labor wages of $128,000 were paid in cash. Of this
amount, $104,100 was for direct labor and the remainder was for
indirect labor.
Depreciation of $197,000 was incurred on factory
equipment.
Required:
Record the above transactions in...
Larned Corporation recorded the following transactions for the just completed month. a. $83,000 in raw materials were purchased on account. b. $81,000 in raw materials were used in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,500 were paid in cash. Of this amount, $101,400 was for direct labor and the remainder was for indirect labor. d. Depreciation of $195,000 was incurred on factory equipment. Required: Record...
Thank you
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account. b. $69,000 in raw materials were used in production. Of this amount, $57,000 was for direct materials and the remainder was for indirect materials. c Total labor wages of $113,500 were paid in cash Of this amount, $100,100 was for direct labor and the remainder was for indirect d. Depreciation of $194,000 was incurred on factory equipment. labor...
please answer soon
Larned Corporation recorded the following transactions for the just completed month. a. $75,000 in raw materials were purchased on account. b. $73,000 in raw materials were used in production of this amount. $64.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $121,000 were paid in cash. Of this amount, $101,700 was for direct labor and the remainder was for indirect labor. d. Depreciation of $196,000 was incurred on factory...
Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production. Of this amount, $60,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $119,000 were paid in cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $192,000 was incurred on factory equipment Required: Record...
Larned Corporation recorded the following transactions for the just completed month. a. $90,000 in raw materials were purchased on account b. $88,000 in raw materials were used in production of this amount, $76,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $104,100 was for direct labor and the remainder was for indirect labor. d. Depreciation of $199,000 was incurred on factory equipment. Required: Record...
Lamed Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account b. $71,000 in raw materials were used in production of this amount. $62.000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $175,000 was incurred on factory equipment. Required: Record...
Larned Corporation recorded the following transactions for the
just completed month.
$72,000 in raw materials were purchased on account.
$70,000 in raw materials were used in production. Of this
amount, $57,000 was for direct materials and the remainder was for
indirect materials.
Total labor wages of $117,500 were paid in cash. Of this
amount, $103,500 was for direct labor and the remainder was for
indirect labor.
Depreciation of $199,000 was incurred on factory
equipment.
Required:
Record the above transactions in...
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