26-3A Objective: To record a complete process cost accounting cycle Camm Corporation uses a process cost accounting system. During the current month, the following transactions occurred: (a) Purchased materials on credit, $190,000. (b) Paid labor costs: gross, $260,000; FICA-OASDI, 6.2%; FICA-HI, 1.45%; federal withholding tax, 20%. (c) Recorded factory overhead expenses paid, $48,000. (d) Issued materials to production as follows: Direct, Assembly Department Direct, Finishing Department Factory Supplies (e) Distributed payroll costs as follows: Direct, Assembly Department Direct, Finishing Department Indirect Sales Office $75,000 55,000 18,000 $80,000 70,000 30,000 50,000 30,000 (f) Charged overhead to the production departments at 70% of direct labor costs. Transferred $195,000 of costs from the Assembly Department to the Finishing Department. (h) Transferred $330,000 of costs from the Finishing Department to the finished goods stockroom. (i) Sold goods costing $295,000 for $345,000 on credit. Directions: Record each of these transactions in general journal form