Larned Corporation recorded the following transactions for the just completed month.
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.)
Answer :-
Transaction | General Journal | Debit | Credit |
---|---|---|---|
a. | Raw material | $72,000 | |
Account payable | $72,000 | ||
(To record raw materials were purchased on account ) | |||
b. | Work in process | $57,000 | |
Manufacturing overhead ($70,000 - $57,000) |
$13,000 | ||
Raw material | $70,000 | ||
(To record raw material used in production) | |||
c. | Work in process | $103,500 | |
Manufacturing overhead ($117,500 - $103,500) |
$14,000 | ||
Cash | $117,500 | ||
(To record labor wages paid) | |||
d. | Manufacturing overhead | $199,000 | |
Accumulated depreciation | $199,000 | ||
(To record overhead) |
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. $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. $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...
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, $65,000 was for direct materials and the remainder was for indirect materials. C. Total labor wages of $120,500 were paid in cash. Of this amount, $103,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $196,000 was incurred on factory equipment. Required: Record...
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. $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...
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. 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...
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...
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...
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...