Journal Entries (Actual Cost System). Transactions for Berrington Corporation for October, 20x1 are shown below: Oct 1 2 15 15 15 16 17 20 31 31 31 31 31 31 31 31 31 Purchased on account raw materials costing $80,000. Placed into the production process direct materials costing $30,000. Direct labor costs of $50,000 were incumed from October 1 to October 15.

Indirect materials used from October 1 to October 15 totaled $10,000 Indirect labor costs totaled $20.000 from October 1 to October 15.

materials purchased on October 1 were paid for. Flaw materials costing $35,000 were purchased on account Payroll accrued on October 15 was paid Direct labor costs of $40,000 from October 16 to October 31 were incumed Indirect materials used from October 16 to October 31 totaled $8,000 Indirect labor costs from October 16 to October 31 totaled $15,000. Factory utility costs of $2.000 for October were were accrued Depreciation on factory plant and equipment for October lotaled $5,000. Factory managers salaries of $7,000 for October were incurred. Variable and fixed factory overhead was charged to work in-process inventory Finished product costing $150,000 was completed during October Finished goods costing $120,000 were sold on account for $160,000 Required: Prepare journal entries to record the October transactions on an actual cost system