1.Answer the below questions using the following information:

Wayland Mfg. uses a normal cost system and had the following end of period data available:

Direct materials purchased on credit terms$ 148,000

Direct materials requisitioned into production$82,000

Direct labor costs incurred$ 130,000

Factory overhead incurred$ 146,000

Cost of Goods completed$ 292,000

Cost of goods sold$ 256,000

Beginning direct materials inventory$26,000

Beginning WIP inventory$64,000

Beginning finished goods inventory$58,000

Overhead application rate is applied as a percent of direct labor costs125%

Use T-accounts to show journal entries for the following transactions:

Purchase of materials-

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Usage of materials-

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Overhead applied to jobs-

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Jobs completed-

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Jobs sold (cost/inventory side only)

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