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Starr Company reports the following information for August. Raw materials purchased on account $ 81,800 Direct materials used in production $ 53,600 Factory wages earned (direct labor) $ 19,550 Overhead rate 135 % of direct labor cost Prepare journal entries to record the following events. Raw materials purchased. Direct materials used in production. Direct labor used in production. Applied overhead.

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Answer:

Entry:  Dr Raw material 81800

                   Cr Accounts payable 81800

       ( To record raw material purchased on account)

Entry: Dr Work in process 53600

               Cr Raw material                53600

     ( To record material used in production)

Entry: Dr Work in process ( 19550 *135%= 26392) 26392

                   Cr Applied factory overhead                          26392

      (To record applied overhead )

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