Home :: HUB Quizzes - ACCT-1074 (212295) N X + quizzing/user/attempt/quiz_start_frame_auto.d2lou=242165&ispry=&drc=1&qi=316519&cfql=08dnb=0& fromQB=0 e Left:1:04:30 Rajvir Kaur: Attempt 1 Hudson Company is a manufacturing firm that uses job-order costing, and they apply overhead to jobs on the basis of 150% of direct labour cost. The following transactions occurred during the year: a. Purchased materials on account, $98,000. b. Direct materials used in production were $80,000 and indirect materials used were $13,000. c. Payroll costs were incurred and paid: factory wages of $25,600 and the production manager salary of $3,000. d. Other manufacturing overhead costs were paid in cash of $24,000. e. Office rent was paid in cash of $2,000. f. Manufacturing overhead was applied to production. Required: 1. Prepare general journal entries to record the above events, Identify each journal entry by letter in the date column. (14 marks) 2. Prepare a journal entry to close any over or under applied overhead in the manufacturing overhead account to the cost of goods sold account. (3 marks) Format B IU 16"C Mostly cloudy hp if+ & 4 5 8 9 In R T Y U O P