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Larned Corporation recorded the following transactions for the just completed month. a $80,000 in raw...

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Accounting

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Larned Corporation recorded the following transactions for the just completed month. a $80,000 in raw materials were purchased on account b. $78,000 in raw materials were used in production. Of this amount. $68,000 was for direct materials and the remainder was for Indirect materials c. Total labor wages of $128,500 were paid in cash. Of this amount $103,200 was for direct labor and the remainder was for indirect labor. d. Depreciation of $197.000 was incurred on factory equipment. d. Depreciation of $197,000 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 requin the first account field.) View transaction list View Journal entry worksheet No Transaction General Journal Debit Credit 1 Row materials Accounts payable 80,000 80,000 2 b. Work in process Manufacturing overhead 8,000 70,000 78,000 3 c Wages payable Cash 121,500 121,500 4 d. No Transaction Recorded

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