Here is some basic data for Shannon Company: Cost of materials purchases on account $72,900 Cost of materials requisitioned (includes $2200 of $53,500 indirect) Direct labor costs incurred $79,900 Manufacturing overhead costs incurred, including $88,000 indirect materials Cost of goods completed $257,550 Cost of goods sold $167,700 Beginning raw materials inventory $17,900 Beginning work in process inventory $33,900 Beginning finished goods inventory Predetermined manufacturing overhead rate (as % of direct labor cost) The journal entry to record the cost of raw materials placed into production involves a $35,200 125% credit to Manufacturing Overhead account for $2200. debit to Work-in-Process Inventory account for $53,500. debit to Overhead account for $51,300. debit to Work-in-Process Inventory account for $51,300.