Larned Corporation recorded the following transactions for the just completed month. $81,000 in raw materials were purchased on account. $79,000 in raw materials were used in production. Of this amount, $71,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $117,500 were paid in cash. Of this amount, $101,200 was for direct labor and the remainder was for indirect labor. Depreciation of $195,000 was incurred on factory equipment.
Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Journal entry worksheet
Note: Enter debits before credits.
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Note: Enter debits before credits.
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Note: Enter debits before credits.
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Note: Enter debits before credits.
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