ge 6 of 7 Problem: Journal entries for a job order cost system Northern Manufacturing uses a traditional job order cost system and keeps track of inventories with a perpetual system. The company applies overhead to jobs using direct labor hours as a basis. The predetermined overhead rate is $30 per direct labor hour this year. Use the following account titles to prepare journal entries for selected events 1-9 that occurred during 2021. Cash Accounts receivable Accounts payable Sales Cost of goods sold 1. Raw materials inventory Work in process inventory Finished goods inventory Manufacturing overhead Advertising expense Raw materials are purchased on account for $700,000. Wages payable Accumulated depreciation Factory Labor Employer taxes payable 2. Raw materials are requisitioned for use in production, $350,000 for direct materials and $50,000 for indirect materials. 3. Factory labor costs of $200,000 are incurred, but not yet paid. Wages payable amount to $185,000 and Employer taxes payable amount to $15,000. 4. The company determines that the Factory labor (in 3. above) consists of direct labor of $140,000 and indirect labor of $60,000.