Larned Corporation recorded the following transactions for the just completed month.
$90,000 in raw materials were purchased on account.
$88,000 in raw materials were used in production. Of this amount, $77,000 was for direct materials and the remainder was for indirect materials.
Total labor wages of $115,000 were paid in cash. Of this amount, $104,400 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 journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
NoTransactionGeneral JournalDebitCredit
1a. Raw materialsselected answer correct90,000selected answer correctnot attempted
Accounts payableselected answer correctnot attempted90,000selected answer correct
2b. Work in processselected answer correctnot attemptednot attempted
Manufacturing overheadselected answer correctnot attemptednot attempted
Raw materialsselected answer correctnot attemptednot attempted
3c. Work in processselected answer correctnot attemptednot attempted
Manufacturing overheadselected answer correctnot attemptednot attempted
Wages payableselected answer incorrectnot attemptednot attempted
4d. Manufacturing overheadselected answer correctnot attemptednot attempted
No journal entry requiredselected answer incorrectnot attempted
Answers: 2
Business, 22.06.2019 10:30, khenalilovespandas
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Answers: 1
Business, 22.06.2019 12:00, dwilburn01
Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?
Answers: 3
Larned Corporation recorded the following transactions for the just completed month.
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