1. What is the Journal Entry for:August 4,20X5 purchased fabric and aluminum to be used in the manufacturing process. The purchase price was $4000 on account.A. Raw Materials Inventory 4,000 Cash. 4000B. Accounts Payable. 4000 Raw Materials Inventory 4000C. Raw Materials Inventory 4000 Accounts Payable 4000D. Cash 4000 Raw Materials Inventory 40002. How much do you need to DEBIT the work-in-Process account for the following transaction? Aug 8,20X5 - Transferred 60% of the raw materials purchased on August 4 into production:3. In the end the Raw Materials account would contain an ending balance of:4. In the end Work-in-process account would contain an ending balance of:5. In the end, the Finished-Goods Inventory account would contain an ending balance of:

Cool Sun produces awnings and screens. Prepare journal entries to reflect the following transactions. After you complete the entries, determine the amount to include in raw materials, work in process, and finished goods. Aug. 4, 20X5 Purchased fabric and aluminum to be used in the manufacturing process. The purchase price was $4,000, on account. Aug. 8, 20X5 Transferred 60% of the raw materials purchased on August 4 into production. Aug. 8, 20X5 Incurred direct labor costs of $3,000. Factory overhead is applied at 40% of the direct labor cost. Aug. 9, 20X5 Transferred completed awnings with total assigned costs of $4,400 to finished goods. Aug. 10, 20X5 Sold and delivered half of the finished goods (from August 9) to a customer for $4,000 cash