Journal entries????? 1. PKR 700,000 in raw materials were purchased on account. 2.600,000 in raw materials were used in production. Of this amount, 520,000 was for direct materials and the remainder was for indirect materials. 3. Labor wages of PKR 280,000 were paid in cash. Of this amount, PKR 200,000 was for direct labor and the remainder was for indirect labor. 4. Depreciation of PKR 175,000 incurred on factory equipment.

Journal entries????? 1. PKR 700,000 in raw materials were purchased on account. 2.600,000 in raw materials were used in production. Of this amount, 520,000 was for direct materials and the remainder was for indirect materials. 3. Labor wages of PKR 280,000 were paid in cash. Of this amount, PKR 200,000 was for direct labor and the remainder was for indirect labor. 4. Depreciation of PKR 175,000 incurred on factory equipment.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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