Asked Mar 17, 2019

Starr Company reports the following information for August.

Raw materials purchased on account $ 76,200  
Direct materials used in production $ 48,000  
Factory wages earned (direct labor) $ 15,350  
Overhead rate   120 % of direct labor cost


Prepare journal entries to record the following events.

1. Raw materials purchased.
2. Direct materials used in production.
3. Direct labor used in production.
4. Applied overhead.


Expert Answer

Step 1

Journal Entry: A journal entry, in accounting, is the logging of a transaction in an accounting journal that demonstrates a company's charge and credit balances. The total of the charges must equal the total of the credits or the journal entry is viewe...

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