11. Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Using the T format as in EX 14-7, record the following transactions during the month of June.

June 1 Purchased raw materials for $20,000.

8 Raw materials requisitioned by production:

Direct materials $8,000

Indirect materials 1,000

15 Incurred factory utilities, $2,100 and repairs for factory equipment, $8,000.

25 Incurred $108,000 of factory labor.

25 Time tickets indicated the following:

Direct Labor (7,000 hrs $12 per hr) = $84,000

Indirect Labor(3,000 hrs $8 per hr) = 24,000

$108,000

25 Applied manufacturing overhead to production based on a predetermined overhead rate of $7 per direct labor hour worked.

28 Goods costing $18,000 were completed in the factory and were transferred to finished goods.

30 Goods costing $15,000 were sold.