Exercise: A. Alaris Manufacturing, Inc. is a company that manufactures wooden tables. The company maintains detailed records of its production costs. Below are several transactions that occurred during the month of September 2024. For each transaction prepare the journal entry. 1. Purchase of raw materials: On September 1st, Alaris Manufacturing purchased raw materials worth $25,000, paying 50% in cash and the remaining on credit. 2. Use of raw materials in production: On September 5th, the company transferred $18,000 of raw materials to production, of which $15,000 were direct materials and $3,000 were indirect materials. 3. Direct labor costs: During the month, direct labor costs amounted to $10,000, which were paid in cash. 4. Manufacturing overhead costs: During the month, Alaris incurred the following manufacturing overhead costs: All costs were paid in cash. Plant supervisor's salary: $3,000 All costs were paid in cash. Plant supervisor's salary: $3,000 Machinery depreciation: $2,000 Utilities (electricity): $1,500 All costs were paid in cash. 6. 5. Allocation of manufacturing overhead to production: At the end of the month, the overhead costs of $6,500 are allocated to the work in process account. 6. Completed goods: At the end of the month, products with a total cost of $28,500 were completed and transferred to finished goods inventory. 7. Sale of finished goods: Finished goods were sold for $35,000, of which $20,000 were collected in cash, and the rest was on credit. The cost of goods sold was $28,000. Questions for Exercise A: 1. What is the balance in the Work in Process account at the end of the month? 2. How did the transactions affect the Manufacturing Overhead account? 3. How did the sale of finished goods affect the Sales and Cost of Goods Sold accounts? 4. What is the final balance in the Finished Goods Inventory account?