Record the above transactions in journal entries

Assignment Help Accounting Basics

Reference no: EM13134972

Learned Corporation recorded the following transactions for the just completed month.

a. $80,000 in raw materials were purchased on account.
b. $71,000 in raw materials was requisitioned for use in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials.
c. Total labor wages of $112,000 were incurred. Of this amount, $101,000 was for direct labor and the remainder was for indirect labor.
d. Additional manufacturing overhead costs of $175,000 were incurred.

Required:
Record the above transactions in journal entries. You must show your work

Reference no: EM13134972

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