48 49 Activity 4 Robinson Machine Shop data for producing 40 parts for Job # 10 as follows: Raw Materials, July 1 1,200 WIP, July 1 0 Finished Goods, July 1 0 Materials and supplies purchased 65,000 Direct Materials used 4,000 Indirect materials used 900 Direct Labor 16,000 Indirect Labor 3,500 Depreciation and other MOVH 17,800 7 Activity 4 (cont'd) Overhead is applied per direct labor dollars based on budgeted MOHC $600,000 and budgeted direct labor dollars of $480,000; the job was completed and 30 parts were sold. Any under or over applied MOHC is disposed of to COGS. Required: . Prepare journal entries . Prepare schedule of Cost of Goods Manufactured and Cost of Goods Sold |||