Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. June 1 Purchased raw materials for $20,000 on account. 8 Raw materials requisitioned by production: Direct , $8,000 materials Indirect 1,000 materials 15 Paid factory utilities, $2,100 and repairs for factory equipment, $8,000. 25 Incurred $108,000 of factory labor. 25 Time tickets indicated the fol lowing: Direct Labor (7'000 hrs X $12 = $84,000 per hr) Indirect Labor (3000 hrs X $8 per = 24,000 $108,000 Applied manufacturing overhead to production based on a predetermined overhead rate of $7 per direct labor 25 hour worked. 28 Goods costing $18,000 were completed in the factory and were transferred to nished goods. Applied manufacturing overhead to production based on a predetermined overhead rate of $7 per direct labor 25 hour worked. 28 Goods costing $18,000 were completed in the factory and were transferred to nished goods. 30 Goods costing $15,000 were sold for $20,000 on account. Preparejournal entries to record the above transactions during the month of June. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit egg (Purchase of raw materials on account) (To assign materials to jobs and overhead) 15 15 25 25 25 ll || (To record payment of factory utilities and repairs) ll || (To record factory labor costs) || ll (To assign factory labor to jobs and overhead) : (To apply overhead to jobs) 25 (To apply overhead to jobs) 28 (To record completion of production) 30 (To record sales of finished goods and its cost)