2. Following is a list of costs incurred by the Sitka Products Co. during the month of June: Direct materials used Indirect materials used Direct labor employed Indirect labor employed Selling expenses $12,400 Expired insurance $3,100 800 700 3,100 Utilities 22,000 Repairs 4,500 Depreciation expense 5,000 -Machinery and equipment 1,000 (1) Prepare the journal entries necessary to record the a) issuance of materials, b) the distribution of labor cost, c) the recording of factory overhead, and d) the entry transferring Factory Overhead to Work in Process (2) Prepare the journal entries for the materials on hand were $200 less than the stores ledger balance ANS