Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $7,700, direct labor of $3,600, and applied overhead of $3,240. Custom Cabinetry applies overhead at the rate of 90 % of direct labor cost. During July, Job 120 is sold (on account) for $31,500, Job 121 is started and completed, and Job 122 is started and still in process at the end of the month. Custom Cabinetry incurs the following costs during July Total $14,200 Job 120 Job 121 Job 122 $7,000 5,300 July Product Costs Direct materials Direct labor $4,300 3,700 $2,900 11,500 2,500 overhead applied 1. Prepare journal entries for the following in July. a. Direct materials used in production. b. Direct labor used in production. c. Overhead applied. d. The sale of Job 120. e. Cost of goods sold for Job 120. 2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory general ledger accounts. (Assume there are no jobs in Finished Goods Inventory as of June 30.) Answer is not complete. nswers in the tabs below. Complete this question by entering Required 2 Required 1 Prepare journal entries for the above transactions in July. Credit Debit General Journal Transaction No 14,200 Work in ess inventory 1 a. 14,200 Raw materials inventory Next > 7 of 14