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, $62,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $106,000 were paid in cash. Of this amount, $102,200 was for direct labor and the remainder was for indirect labor. Depreciation of $193,000 was incurred on factory equipment.
Required:
Record the above transactions in journal entries.
+2
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Larned Corporation recorded the following transactions for the just completed month. $72,000 in raw materials were purchased on account. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » 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.