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    Argosy University/ Phoniex University/
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Category > Management Posted 31 Mar 2018 My Price 9.00

Kirkaid Company

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Prepare Journal Entries

Kirkaid Company recorded the following transactions for the just completed month.

a.       $86,000 in raw materials were purchased on account.

b.       $84,000 in raw materials were requisitioned for use in production. Of this amount, $72,000 was for direct materials and the remainder was for indirect materials.

 

 

c.       Total labor wages of $108,000 were incurred. Of this amount, $105,000 was for direct labor and the remainder was for indirect labor.

d.       Additional manufacturing overhead costs of $197,000 were incurred.

Required:

Record the above transactions in journal entries.

Answers

Maurice Tutor
(5)
Status NEW Posted 31 Mar 2018 12:03 PM My Price 9.00

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