Question

Larned Corporation recorded the following transactions for the Just completed month. a. $82,000 in raw materials were purchased on account b. $80,000 in raw materials were used in production. Of this amount, $67,000 was for direct materials and the remainder was for Indirect materials c. Total labor wages of $107,000 were paid in cash. Of this amount, $100,700 was for direct labor and the remainder was for Indirect labor. d. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) View transaction line Journal entry worksheet 1 2 3 > $82,000 in raw materials were purchased on account Note Enter debits before credits Transaction General Journal Debat Credit Prev 1 of 4 Next >

Answer 1

n Transactio General Journal 1 Raw material Account payable Being Raw materials purchased on account Debit($) Credit($) 82000 82000$ 67000 13000 2 Work in process Manufacturing overhead Raw material Being $80,000 worth raw materials used in Production 80000 $ 100700 6300 3 Work in process Manufacturing overhead Cash Being $107,000 used as labor cost 107000 4 Manufacturing overhead 197000 Accumulated depreciation-factory equipment Being Depreciation charged on factory equipment 197000

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