Exercise 17.10 (Statlc) Journal Entrles, Cost Flows, and Financlal Reporting (LO17-3, LO17-4, LO17-5) Marshall uses a job arder costing system to sccount for prajects. It spolies menufscturing overhesd to jobs on the bosis af direct iobor hours and poys its olrect lsbor workers $50 per hour. The following informstion relstes to the manth of December. Prepsre the joumsl entry to recard: a. The purchase of olrect materigls in December. Assume all purshsses sre msde on occount. b. The coat of direct msteriois spplied to jobs in December. c. The cont of direct labor spolied to jaba in December. d. The sctusl coat of mbnufocturlig averheod Incurred in December. Acsume s overhesd cocts were poid in cesh. e. The cost of manusiscturing overhesd spalied to jabs in December. f. Revenue snd the re oted cost of jabs sold in Decembec Absume all sales are mode on sccount. g. December selling snd sdminstristie costa. Acsume oll selling snd sdmingtrsthe coats were pold in cash. h. To close the Msnufocturing Overhesd sccount direct yy to Cost of Good Sold on December 51 . L. Compute the compsny's December income/lose. lgnore taxez. Complete this question by entering your answers in the tabs below. Prepare foumsl entries for each of the above transactions. (If no sntry is requined for a transaction/event, seled "No joumal entry Prequired" in the first account fieid.] Exercise 17.10 (Statlc) Journal Entrles, Cost Flows, and Financlal Reporting (LO17-3, LO17-4, LO17-5) Marshall uses a job arder costing system to sccount for prajects. It spolies menufscturing overhesd to jobs on the bosis af direct iobor hours and poys its olrect lsbor workers $50 per hour. The following informstion relstes to the manth of December. Prepsre the joumsl entry to recard: a. The purchase of olrect materigls in December. Assume all purshsses sre msde on occount. b. The coat of direct msteriois spplied to jobs in December. c. The cont of direct labor spolied to jaba in December. d. The sctusl coat of mbnufocturlig averheod Incurred in December. Acsume s overhesd cocts were poid in cesh. e. The cost of manusiscturing overhesd spalied to jabs in December. f. Revenue snd the re oted cost of jabs sold in Decembec Absume all sales are mode on sccount. g. December selling snd sdminstristie costa. Acsume oll selling snd sdmingtrsthe coats were pold in cash. h. To close the Msnufocturing Overhesd sccount direct yy to Cost of Good Sold on December 51 . L. Compute the compsny's December income/lose. lgnore taxez. Complete this question by entering your answers in the tabs below. Prepare foumsl entries for each of the above transactions. (If no sntry is requined for a transaction/event, seled "No joumal entry Prequired" in the first account fieid.]