Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 $11,700 104,000 46,000 For Job 101 32,500 For Job 102 13,500 Used on multiple jobs. 1. How much of the raw materials cost would be added to the Work in Process Inventory account during the period? 2. How much of the raw materials costs would be added to the Manufacturing Overhead account? 3. Compute the ending balance in the Raw Materials Inventory account. 1. Direct Materials 2 Indirect Materials 3. Ending Balance Fairfield Company's raw materials inventory transactions for the most recent month are summarized here: Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 $10,800 119,000 42,500 For Job 101 31,500 For Job 102 13,500 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < A B Record the purchase of raw materials on account. Note: Enter debits before credits Transaction 1 General Journal Debit Credit Journal entry worksheet < A B Record the issuance of raw materials to production. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal Fairfield Company applies manufacturing overhead to products at a predetermined rate of $60 per direct labor hour. Its actual manufacturing costs for the most recent period are summarized here: Item Direct materials Indirect materials. Hourly labor wagen Factory supervision Description Used on Jobs 101 and 102 Used on multiple jobs) 790 hours $30 per hour 180 hours for Job 101- 330 hours for Job 102- Total Cost $83,000 14,000 $5,400 9,900 280 hours for Job 103- 8,400 23,700 3,950 Production engineer 5,000 Factory janitorial work 1,200 Selling, general, and administrative salaries) depreciation, etc.) ,300 Other manufacturing overhead costs (factory rent, insurance, 6,100 Other selling, general, and administrative costs (office rent, insurance, depreciation, etc.) 4.100 1. Prepare the journal entry to close the Manufacturing Overhead account balance to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet Record the transfer of manufacturing overhead account balance to cost of goods sold. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry Clear entry View general Journal