Haslett Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 2,000 units of Product B was received. The standard cost of one unit of Product B is as follows.

Direct materials 2 pounds at $1.00 per pound = $ 2.00

Direct labor 1.50 hour at $10 per hour = 15.00

Overhead 2 hours (variable $4.00per machine hour; fixed $3.50 per machine hour) =15.00

Standard cost per unit $32.00

Normal capacity for the month was 4,290 machine hours. During January, the following transactions applicable to Job No. 12 occurred.

1. Purchased 4,540 pounds of raw materials on account at $1.07 per pound.

2. Requisitioned 4,540 pounds of raw materials for Job No. 12.

3. Incurred 3,140- hours of direct labor at a rate of $9.88 per hour.

4. Worked 3,140 hours of direct labor on Job No. 12.

5. Incurred manufacturing overhead on account $34,850.

6. Applied overhead to Job No. 12 on basis of standard machine hours allowed.

7. Completed Job No. 12.

8. Billed customer for Job No. 12 at a selling price of $162,000.

Journaliza the transactions

Work in Process Inventory 30,260 Labor Quantity Variance 1,140 Factory Labor 31,400 Manufacturing Overhead 34,850 Accounts Payable 34,850 Work in Process Inventory 31,015 Manufacturing Overhea 31,015 Finished Goods Inventory 65,275 Work in Process Invent 65,275 8 Accounts Receivable 162,000 Sales 162,000 (To record sales.) Cost of Goods Sold 65,275 Finished Goods Invento 65,275 (Ii) RX1lit/ e i: nt.eytinglei gitil.1..)