Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary Journal entries to record the following transactions for a company in its first month of operations. o. Raw materials purchased on account. $96,000. b. Direct materials used in production, $41.000. Indirect materials used in production, $18.600. c. Paid cash for factory payroll $40,000. Of this total, $32,000 is for direct labor and $8,000 is for Indirect labor d. Pald cash for other actual overhead costs $8,000 e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods. $60,000. 91. Jobs that had a cost of $60,000 were sold. 92. Sold jobs on account for $85,000. Answer is not complete. No Transaction General Journal Credit 1 8 Raw materials inventory Accounts payable Debit 96,000 > 96 000 2 (1) Work in process inventory Factory overhead Raw materals inventory 41.800 18,600 & 59.000 Answer is not complete. Transaction General Journal Debit Credit a Raw materials inventory Accounts payable 96,000 96,000 (1) Work in process inventory Factory overhead Raw matenals inventory 41,000 18,600 59,600 b(2) Work in process inventory Factory overhead Cash 32,000 8,000 40,000 C. Factory overhead > 8.000 d No Transaction Recorded 0 Work in process inventory Factory overhead 38.400 38,400