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 materials $8,000 Indirect materials 1,000 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 following: Direct Labor (7.000 hrs * $12 per hr) $84,000 Indirect Labor (3,000 hrs x $8 per hr) 24.000 $108,000 of Applied manufacturing overhead to production based on a predetermined overhead rate of $7 per direct labor hour worked. 28 Goods costing $18,000 were completed in the factory and were transferred to finished goods. 30 Goods costing $15.000 were sold for $20,000 on account. (To assign materials to jobs and overhead) 15 Manufacturing Overhead 10100 2100 Utilities Payable (To record payment of factory utilities and repairs) 25 Factory Wages Payable 108000 Cash 108000 (To record factory labor costs) 25 Work in Process Inventory 84000 Manufacturing Overhead 24000 108000 Factory Wages Payable (To assign factory labor to jobs and overhead) 25 Work in Process Inventory 70000 70000 Manufacturing Overhead (To apply overhead to jobs) 28 Finished Goods Inventory 18000 18000 Work in Process Inventory (To record completion of production) 30 Cost of Goods Sold 15000 Finished Goods Inventory 15000 Accounts Receivable 20000 Sales Revenue 20000 Prepare journal 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 Debit Credit Date Account Titles and Explanation June 1 Raw Materials Inventory 20000 Accounts Payable 20000 (Purchase of raw materials on account) 8 Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (To assign materials to jobs and overhead) 15 Manufacturing Overhead Utilities Payable (To record payment of factory utilities and repairs) 25 Factory Wages Payable Cash (To record factory labor costs) 108000 108000 25 Work in Process Inventory 84000 Manufacturing Overhead 24000 Factory Wages Payable Croaciam facts abortofobs and condi