Flow of Product Costs through Accounts Assuming a routine manufacturing activity, present journal entries (account titles only) for each of the following transactions: a. Purchased material on account. Debit Credit Accounts payable Description b. Recorded wages payable (for Indirect labor) earned but not paid. Description Debit Credit Wages payable + c. Requisitioned both direct material and indirect material. Description Debit Credit Work in process inventory Manufacturing overhead Materials inventory d. Assigned direct and Indirect labor costs. Description Debit Credit Work in process inventory Manufacturing overhead Wages payable e. Recorded factory depreciation and accrued factory property tax. Description Debit Credit Manufacturing overhead + Accumulated depreciation factory Property taxes payable f. Applied manufacturing overhead to production. Debit Credit Description Manufacturing overhead g. Completed work on products. Description Work in process inventory Debit Credit h h. Sold finished goods on account. Description Cost of goods sold Debit Credit 4 To transfer cost to expense. To record sale of goods. 1. Pald wages Description Accounts receivable Debit Credit 4 To pay wages earned