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

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Question

Accounting

Larned Corporation recorded the following transactions for the just completed month.
a. Purchased $80,000 of raw materials on account.
b. $71,000 in raw materials were used in production. Of this amount, $62,000 was direct materials and the remainder was indirect materials.
c. Paid employees $112,000 cash. Of this amount, $101,000 was direct labor and the remainder was indirect labor.
d. Depreciation of $175,000 was incurred on factory equipment.
Required:
Record the above transactions in journal entries.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
Journal entry worksheet
1,2,3,4
$80,000 in raw materials were purchased on account.
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