Enter the following entries for the month of July. A. Cash sales of inventory: $800. The cost of inventory sold was $350. B. Selling and Administrative expenses incurred and paid: $1,200. C. Raw Materials purchased on account: $2,560. D. Materials requisitioned and used in production: $980. E. Direct Labor wages incurred during July: $2,875. Direct Labor wages actually paid in July were $2,000. F. Factory Overhead was allocated to Work in Process Inventory at a predetermined overhead allocation rate of 60% of Direct Labor costs incurred during July. (3. The cost of product completed and moved to the Finished Goods Inventory: $4,675. H. Sales on account: $2,000. The cost of the units sold was $975. I. Actual Factory Overhead costs for the month of July totaled $2,600. |[All paid in cash.)