Business, 28.07.2021 16:10, jacobman0718

Larned Corporation recorded the following transactions for the just completed month. $79,000 in raw materials were purchased on account.
$77,000 in raw materials were used in production. Of this amount, $65,000 was for direct materials and the remainder was for indirect materials.
Total labor wages of $109,500 were paid in cash. Of this amount, $100,900 was for direct labor and the remainder was for indirect labor.
Depreciation of $195,000 was incurred on factory equipment.

Required:
Record the above transactions in journal entries.

Answers: 1

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Larned Corporation recorded the following transactions for the just completed month. $79,000 in raw...