Chapter 3, Problem 1E

Prepare Journal Entries L03-1
Larned Corporation recorded the f0110'öing transactions for the just completed month
a. $80,000 in raw materials were purchased on account,
b. $71,000 in raw materials were used 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 paid in cash. Of this amount $101,000 was for indirect labor.
d Depreciation of $175,000 was incurred on factory equipment.
Record the transactions in journal