Starr Company reports the following information for August. Raw materials purchased on account $ 79,800
Direct materials used in production $ 54,800
Factory wages earned (direct labor) $ 20,600
Overhead rate 130% 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.

Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm