Glen Lake Corporation recorded the following transactions for the just completed month:
a.$60,000 in raw materials were purchased on account.
b.$51,000 in raw materials were requisitioned for use in production.Of this amount,$42,000 was for direct materials and the remainder was for indirect materials.
c.Total labor wages of $92,000 were incurred and paid.Of this amount,$81,000 was for direct labor and the remainder was for indirect labor.
d.Additional manufacturing overhead cost of $155,000 were incurred.All were on account.
Required:
Record the above transactions in journal entries.

Question

Quizplus · Accepted Answer

The Answer of Glen Lake Corporation recorded the following transactions for the just completed month:
a.$60,000 in raw materials were purchased on account.
b.$51,000 in raw materials were requisitioned for use in production.Of this amount,$42,000 was for direct materials and the remainder was for indirect materials.
c.Total labor wages of $92,000 were incurred and paid.Of this amount,$81,000 was for direct labor and the remainder was for indirect labor.
d.Additional manufacturing overhead cost of $155,000 were incurred.All were on account.
Required:
Record the above transactions in journal entries.

Glen Lake Corporation Recorded the Following Transactions for the Just