enu Prior to the beginning of 2016, Stapleton Company estimated that it would incur overhead cost during 2016, using 17,000 direct labor hours to produce the desired volume of january 1, 2016, beginning balances of Material Inventory were $48,000, $-0-, and $87,000, respectively. Required 153,000 of manufacturing goods. On s Inventory, Work in Process Inventory, and Finished Goods Prepare general journal entries to record the following for 2016 a. Purchased materials on account, $316,000. Description Debit Credit Materials inventory 16,000 Accounts payable 0 316,000 Page 8 b. Of the total dollar value of materials used, $284,000 represented direct material and $35,000 indirect material. Descriptiorn Debit Credit Work in process inventory 284,000 Manufacturing averhead 35,000 Materials inventory 0 319,00 c. Determined total factory labor, $189,000 (18,000 hrs.@$10.50/hr.). d. Of the factory labor, 15,800 were direct labor hours Description Debit Credit Work in process inventory 165,900 Manufacturing overhead 23,100 Wages payable 183,000 e. Applied manufacturing overhead based on direct labor hours to work in process. Description Debit Credit