Diaz Company employs a job cost system As of January 1, 2019, its records showed the following inventory balances Materials $31,500 Work in process $56,500 Finished goods (30,000 units $3) $90,000 The work in process inventory consisted of two jobs Summarized below are the production and sales data for the company for 2019 1 Materials purchased $95,000 2 Materials requisitioned direct materials for Job No 378, $16,000 for Job No 379, $32,000 and Job No 380, $36,000 supplies (indirect materials) requisitioned, $4,500 3 Factory payroll distributed direct labor to Job No 378, $30,000 to Job No 379, $45,000 and to Job No 380, $60,000 indirect labor, $15,000 4 Manufacturing overhead is assigned to work in process at $0 50per dollar of direct labor (the same rate as in 2018) 5 Job Nos 378 and 379 were completed 6 Factory indirect costs (other than indirect labor and indirect materials) depreciation, $7,000 heat, light, and power, $3,000 and miscellaneous, $5,000 7 Sales for the year amounted to $320,000 cost of goods sold, $197,000 Required Use T accounts to illustrate the journal entries for the above summarized transactions

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Diaz Company employs a job cost system As of January 1, 2019, its records showed the following inventory balances  Materials $31,500 Work in process $56,500 Finished goods (30,000 units   $3) $90,000 The work in process inventory consisted of two jobs  Summarized below are the production and sales data for the company for 2019  1 Materials purchased $95,000 2 Materials requisitioned direct materials for Job No  378, $16,000  for Job No  379, $32,000  and Job No  380, $36,000  supplies (indirect materials) requisitioned, $4,500  3 Factory payroll distributed direct labor to Job No  378, $30,000  to Job No  379, $45,000  and to Job No 380, $60,000  indirect labor, $15,000 4 Manufacturing overhead is assigned to work in process at $0 50per dollar of direct labor (the same rate as in 2018) 5 Job Nos  378 and 379 were completed 6 Factory indirect costs (other than indirect labor and indirect materials)  depreciation, $7,000  heat, light, and power, $3,000  and miscellaneous, $5,000  7 Sales for the year amounted to $320,000  cost of goods sold, $197,000  Required  Use T accounts to illustrate the journal entries for the above summarized transactions

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Diaz Company employs a job cost system.As of January 1, 2019, its records showed the following inventory

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