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1. Purchased supplies on account $1,440. 2. Issued supplies $960 (60% direct and 40% indirect). 3. Assigned labor costs based on time cards for the
1. Purchased supplies on account $1,440. 2. Issued supplies $960 (60\% direct and 40% indirect). 3. Assigned labor costs based on time cards for the month which indicated labor costs of $56,000 ( 80% direct and 20% indirect). 4. Operating overhead costs incurred for cash totaled $32,000. 5. Operating overhead is applied at a rate of 90% of direct labor cost. 6. Work completed totaled $60,000. Journalize the transactions for March. (List all debit entries before credit entries. Credit account titles are automatically indented whe. amount is entered. Do not indent manually.) 4. 5. 6
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