Question

Exercise 15-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August Raw materials purchased on account Direet materials used in production Factory wages earned direct labor) Overhead rate $89,000 $53,800 $21,050 125 of direct labor cost Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet « А в со Record raw materials purchased on account Niger Enter debts before credits Transaction General Journal Debit Credit < Prev 10 of 10

Answer 1

Transaction	General Journal	Debit	Credit
1	Raw materials inventory	$89,000
	Accounts payable		$89,000
2	Work in process inventory	$53,800
	Raw materials inventory		$53,800
3	Work in process inventory	$21,050
	Factory payroll payable		$21,050
4	Work in process inventory	$26,312.5
	Factory overhead		$26,312.5