Record the above transactions in journal entries

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

Questions Cloud

Minimizing surface area of cylinder : A shop can sell 30 radios at $20 each, per week. For every $1 increase in the price there will be a loss of one sale per week. How much should the shop charge in order to make the maximum profit If the cost to make each radio is $10

What does katie gross estate include as to this property : In the current year, Katie predeceases Russell at a time when the property is worth $500,000. What does Katie's gross estate include as to this property?

Find balance of account just after last withdrawal : Withdrawals of $400 for 3 years. Find the balance of her account just after the last withdrawal (on february 1,2001)if the monthly interest rate is 6%.

Explain load that can be lifted by aerostat balloon : Load that can be lifted by aerostat balloon An aerostat balloon is filled with hydrogen. It has a volume of 1000m^3 at constant air temperature of 27 degree C and pressure of 0.98bar.

Record the above transactions in journal entries : Learned Corporation recorded the following transactions for the just completed month.

What is the molarity of the hno3 solution : A 35.00 mL sample of HNO3 solution is neutralized by exactly 42.63 mL of 0.4153 M KOH. What is the molarity of the HNO3 solution?

What was the approximate life of the asset : Madison Industries uses the straight-line depreciation method. One asset had been purchased for $9,000. Annual depreciation expense was $800 after considering a residual value of $1,000. What was the approximate life of the asset?

Are these policies expensive : The group of key personnel has an important impact on an organization. Some companies carry director and officers liability insurance. Are these policies expensive? Why are they necessary?

Minimization of cost : The base of an aquarium with given volume V is made of slate and the sides are made of glass. If slate costs five times as much (per unit area) as glass, find the dimensions of the aquarium that minimize the cost of the materials.

User Account

All Pages