Exe! How Practice Journal Entries: (prepare these entries on the following page): Try not to look at the entries above and see if you can do them on your own. 1. Raw materials purchased on account, $210,000. 2. Raw materials issued to production, $190,000 ($178,000 direct materials and $12,000 indirect materials). 3. Direct labor cost incurred, $90,000; indirect labor cost incurred, $110,000. 4. Rent bill is received for factory building, $40,000. (credit Accounts Payable) 5. Other manufacturing overhead costs incurred during October, $70,000 (credit Accounts Payable) 6. The company allocates manufacturing overhead cost to production on the basis of $8 per machine-hour. A total of 30,000 machine-hours were recorded for October 7. Production orders costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods. 8. Production orders that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 25% above cost.