College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN: 9781337794756
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Prepare journal entries

Nia Company reports the following information for August.
Raw materials purchase on account $76,200
Direct materials used in production $48,000
Factory wages earned (direct labor) $15,350
Overhead rate
Required:
120% of direct labor cost
Prepare journal entries to record the following events.
1. Raw material purchased.
2. Direct materials used in production.
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Transcribed Image Text:Nia Company reports the following information for August. Raw materials purchase on account $76,200 Direct materials used in production $48,000 Factory wages earned (direct labor) $15,350 Overhead rate Required: 120% of direct labor cost Prepare journal entries to record the following events. 1. Raw material purchased. 2. Direct materials used in production.
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