Question: Starr Company reports the following information for August. Raw materials purchases $76,200 production Factory wages earned on account Direct materials used in $48,000 $15,350 120% of direct labor cost (direct labor) Overhead rate Required: Prepare journal entries to record the following events. 1. Raw material purchased. 2. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 12PB: The following data summarize the operations during the year. Prepare a journal entry for each...
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Starr Company reports the following information for August.
Raw materials purchases $76,200
production
Factory wages earned
on account
Direct materials used in
$48,000
$15,350
120% of direct
labor cost
(direct labor)
Overhead rate
Required:
Prepare journal entries to record the following events.
1. Raw material purchased.
2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.
Transcribed Image Text:Question: Starr Company reports the following information for August. Raw materials purchases $76,200 production Factory wages earned on account Direct materials used in $48,000 $15,350 120% of direct labor cost (direct labor) Overhead rate Required: Prepare journal entries to record the following events. 1. Raw material purchased. 2. Direct materials used in production. 3. Direct labor used in production. 4. Applied overhead.
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