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1-10 On April 1n. Grace's Printing has Wotk in Process inventory of 52.700, Raw Materials inventory is $1.500 and Mamufacturing Overhead has a $300 credir

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On April 1n. Grace's Printing has Wotk in Process inventory of 52.700, Raw Materials inventory is $1.500 and Mamufacturing Overhead has a $300 credir balance. Subsidiary data for WIP on 4/7 includes: Write the journal entries that are required when: Accumulating cost entries: 1) Raw materials of $2.000 are purchased on account. 2) $1.200 is paid for repairs on factory equipment. 3) Factory rent of $1.000 is paid. 4) $4,700 is paid to factory employees for payroll. Assigning cost entries: 5) A review of materials requisition slips during April shows: 6) A review of time tickets during April shows: 7) Estimated manufacturing overhead for the year was $70,000 and overhead is applied based on direct labor dollars which were estimated at $100,000 for the year. Give the journal entry and note the predetermined overhead rate. Storage and Selling entries: 8) The print job for Jane Kelley is completed during April. 9) Jane Kelley's print job is sold on April 30t at cost plus 75%a Manufacturing Overhead Clearing Entry: 10) Pretend that it is year end and make the entry to clear manufacturing overhead

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