Fairfield Company's raw materials inventory transactions for the most recent month are summarized $ 10,600 119,000 Beginning raw materials Purchases of raw materials Raw materials issued Materials requisition 1445 Materials requisition 1446 Materials requisition 1447 42,500 For Job 101 33,500 For Job 102 14,000 Used on multiple jobs 1. & 2. Prepare the journal entries for materials. (If no entry is required for a transaction/event, sele the first account field.) View transaction list Journal entry worksheet B Record the issuance of raw materials to production. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Work in Process Inventory 42,500 33,500 14,000 Raw Materials Inventory 90,000 Fairfield Company's payroll costs for the most recent month are summarized here: Total Cost Item Description Hourly labor wages 770 hours @ $16 per hour 240 hours for Job 101 = 250 hours for Job 102 = 280 hours for Job 103 = Factory supervision Production engineer Factory janitorial work Selling, general, and administrative salaries Total payroll costs $3,840 4,000 4,480 $12,320 4,750 6,500 1,600 8,200 $33,370 1. & 2. Prepare the journal entries for payroll and to apply manufacturing overhead to production. The company applies manufacturing overhead to products at a predetermined rate of $32 per direct labor hour. (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 Fairfield Company's payroll costs to be paid at a later date. Journal entry worksheet