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Record the transactions in journal entries

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Reference no: EM132903082

Problem - Mirror Lake Corporation recorded the following transactions for the just completed month:

1. $60,000 in raw materials were purchased on account.

2. $51,000 in raw materials were requisitioned for use in production. Of this amount, $42,000 was for direct materials and the remainder was for indirect materials.

3. Total labor wages of $92,000 were incurred and paid. Of this amount, $81,000 was for direct labor and the remainder was for indirect labor.

4. Additional manufacturing overhead cost of $155,000 were incurred. All were on account.

Required - Record the above transactions in journal entries.

Reference no: EM132903082

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