Custom Cabinetry has one job in process Job 120) as of June 30, at that time, ts job cost sheet reports drect materials of overhead of $2,560 Custom Cabinetry applies overhead at the rate of 80% of direct labor cost During July. Job 120 is sold (on account) for $26,500, Job 121 is started and the end of the month. Custom Cabinetry incurs the following costs during July Total Costs Direct materials 120 121 122 $1,800 $7,400 $3,500 $12,700 Direct labor 2, 200 5,500 3, 600 11,300 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 23t baliances of the work in Process inventory and the Finshed Goods Inventory general ledger accounts sume there are no jobs in Finished Goods Inventory as of June 30) Noxt K Prev 7f 7 Prepare journal entries for the above transactions in July. View transaction list Journal entry worksheet Book int Record the entry to assign direct materials to job. rint rences Note: Enter debits before credits. DebitCredit General Journal ransaction Next