Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on account. $78,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $112,000 were paid in cash. Of this amount, $102,300 was for direct labor and the remainder was for indirect labor. Depreciation of $197,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
