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(Appendix 10B)The Lahn Company Produces and Sells a Single Product

Question 113

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(Appendix 10B)The Lahn Company produces and sells a single product.Standards have been established for the product as follows: (Appendix 10B)The Lahn Company produces and sells a single product.Standards have been established for the product as follows: Actual cost and usage figures for the past month follow: Required: Prepare journal entries to record: a)The purchase of raw materials. b)The usage of raw materials in production. c)The incurrence of direct labour cost.
Actual cost and usage figures for the past month follow: (Appendix 10B)The Lahn Company produces and sells a single product.Standards have been established for the product as follows: Actual cost and usage figures for the past month follow: Required: Prepare journal entries to record: a)The purchase of raw materials. b)The usage of raw materials in production. c)The incurrence of direct labour cost.
Required:
Prepare journal entries to record:
a)The purchase of raw materials.
b)The usage of raw materials in production.
c)The incurrence of direct labour cost.

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* $3.50 per kg.× 4,500 kgs.= $15,750
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