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EXERCISE 3-4 Preparation of journal entries [OA4] Larner Corporation recorded the following transactions for the month that has just ended.
EXERCISE 3-4 Preparation of journal entries [OA4]
Larner Corporation recorded the following transactions for the month that has just ended.
a) 80,000 monetary units of raw materials purchased on credit.
b) 71,000 monetary units in raw materials requested for use in production. Of this amount,
62,000 were allocated to direct materials and the rest to indirect materials.
c) Total wages for labor were 112,000 monetary units. Of this sum, 101 000
they went hand in hand with another direct, and the rest, indirect labor.
d) Other indirect manufacturing costs totaled 175,000 monetary units.
Is required:
Enter the previous transactions in the corresponding entries.
