Crane Corporation uses standard costs with its job order cost accounting systern. In January, an order (Job No. 12) for 1,000 units of Product B was received. The standard cost of one unit of Product B is as follows. Normal capacity for the month was 4,300 machine hours. During January, the following transactions applicable to Job No. 12 occurred. 1. Purchased 3,300 pounds of raw materials on actount at $1.06 per pound. 2. Requisitioned 3,300 pounds of raw materials for Job No, 12. 3. Incurred 1.280 hours of direct labor at a rate of $7.90 per hour. 4. Worked 1.280 hours of direct labor on Job Na.12. 5. Incurred manufacturing overhead on account $15,240 6. Applied overhead to Job No. 12 on basis of standard machine hours allowed. 2. Requisitioned 3.300 pounds of raw materials for Job No. 12 . 3. Incurred 1,280 hours of direct labor at a rate of $7.90 per hour. 4. Worked 1,280 hours of direct labor on Job No, 12 . 5. Incurred manufacturing overhead on account $15,240. 6. Applied overhead to Job No. 12 on basis of standard machine hours allowed. 7. Completed Job No, 12. 8. Billed customer for Job Na. 12 at a selling price of $85.000. (a) Your answer is partially correct. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented When ampunt is entered. Do not indent monually.) No. Account Titles and Explanation 1. Raw Materais hrentory Mater al Price Vatarce AccountsPyabis Debit Credit 1300 198 2 Warkinprocustiventiry Material Quantity Varuace. 390 Fan Materula beveary 3. Faction bobor 10240 Whor Pice Variance 10112 A. vecos Marwinacturinu Overhead 7. Finahicd Goods impontary 26400 Woikin Processimentoev b. Arcount Rectivable Soles irminu (To record sales) Contot Goodi 5old Frithed Goded lawitory (To record cost of goods sold)