Chapter 15 Homework Help Ch 4 Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its Job cost sheet reports direct materials of 57,800, direct labor of $3,900, and applied overhead of $3.510. Custom Cabinetry applies overhead at the rate of 906 of direct labor cost. During July, Job 120 is sold (on credit for $28.500, Job 121 is started and completed, and Job 122 is started and still in process at the end of July, Custom Cabinetry Incurs the following costs during July. 13 Job 120 Job 121 Jab 122 Direct materials used $ 1,400 $ 6,790 $ 2,600 Direct labor yard 3, 200 4,090 3. DOU 013947 1. Prepare journal entries for the following July transactions and events a through e. a. Direct materials used. b. Direct labor used. c. Overhead applied. d. Sale of Job 120. c. Cost of goods sold for Job 120. Hint: Job 120 has costs from June and July. Him 2. Compute the July 31 balances of the Work In Process Inventory and the Finished Goods Inventory accounts. (There were no jobs in Finished Goods Inventory at June 30.] Print Complete this question by entering your answers In the tabs below. Required 1 Required 2 Prepare journal entites for the fallowing July transactions and events s through c. View transection list Journal entry worksheet ME 4 of 11 Next >