Assume the same data from Problem 1. Record all necessary journal entries.

Data from Problem 1

Best Furniture had the following data in 2022:

There were no changes in the work in process inventory or the finished goods inventory.

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Depreciation on equipment (1/4 is for office equipment) Rent, taxes, insurance, utilities (1/3 is administrative) Salaries of factory personnel other than direct labor (other than employees directly working on production) Salaries of salespeople and administrators Freight-out (cost to deliver products to customers: selling cost) Direct labor Raw materials purchased and used (1/5 is for indirect materials) Sales $100,000 $240,000 $60,000 $90,000 $25,000 $175,000 $300,000 $1,000,000