I cant figure out the journal entries.

Problem 4 (Textbook Reference: P2-4)-Demonstrate job costing Log Cabin Homes, Inc. uses a job cost system to account for its jobs, which are prefabricated houses. As of January 1, 2014, its records showed inventories as follows: S 100,000 Work in process (Job Nos. 22 and 23) $180,000 S 140,000 Materials and supplies Finished goods (Job No. 21) The work in process inventory consisted of two jobs: Direct Manufacturing Job No. Materials Direct Labor Total S 36,000 S40,000 S S 40,000 28,000 S S 76,000 68,000 S 20,000 96,000 16.000 S 84.000 36,000 180,000 23 Cost and sales data for 2014 1. Materials purchased on account, $400,000 2. Direct materials used: Job No. 22, $60,000; Job No. 23, S120,000, Job No. 24, $180,000. Indirect materials used S10,000 3. Direct labor costs: Job No. 22, $100,000, Job No. 23, $200,000, and Job No. 24, $80,000. Indirect labor costs, $80,000. 4. Overhead is assigned to jobs at $100 per machine-hours. Job No. 22 used 500 machine-bours, Job No. 23 used 1,000 5. 6. 7. machine-hours, and Job No. 24 used 300 machine hours in January Job Nos. 22 and 23 were completed and transferred to Finished Goods Inventory Job Nos. 21 and 22 were sold on account for $1,200,000, total. Manufacturing overhead costs incurred, other than indirect materials and indirect labor, were depreciation, $80,000 and heat, light, power, miscellaneous, $40,000 Required: a. Prepare journal entries to assign the preceding costs to jobs. Show the appropriate entries debiting Finished Goods Inventory and Cost of Goods Sold. Transfer overapplied or underapplied overhead to Cost of Goods Sold. (Hint Recreate the T-Account Template we made together in class to keep track of your job costs before you record youar journal entries. A T-Account semplate has been provided on the next page) b Assuming selling and administrative expenses were $100,000, prepare and income statement for 2014. B 14 Fall 2018-Due Thursday, September 6