Business, 17.02.2020 18:21 adam15200031

EXP, Inc. had the following activities during its most recent period of operations:

(a) Purchased raw materials on account for $140,000 (both direct and indirect materials are recorded in the Raw Materials Inventory account).
(b) Issued raw materials to production of $130,000 (80% direct and 20% indirect).
(c) Incurred factory labor costs of $250,000; allocated the factory labor costs to production (70% direct and 30% indirect).
(d) Incurred factory utilities costs of $20,000; this amount is still payable.
(e) Applied overhead at 80% of direct labor costs.
(f) Recorded factory depreciation, $22,000.

Prepare journal entries to record the above transactions. Please make sure the debit is in a different row from credit. If all numbers are lined up in the same row, I can only assume you record all in debit or credit. For example (below would read as debit cash and credit sales for $500)

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EXP, Inc. had the following activities during its most recent period of operations:

(a)...