IV.	AJ Smith Compay has the following beginning inventory balances at 1/1/2019
	Raw materials		$16,000
	WIP		$25,000	all in Job 111
	FinishedGoods		$-
	AJ Smith company had the following transactions in January.
	1. Purchased Raw Materials on account for 240,000
	2. Salaries paid to factory workers was $70,000. All paid in cash.
	3. Factory rent of 60,000 and utility bills for 45,000 for the month were paid.
	and Depreciation on factory equipment was $95,000.
	4. Material and labor was charged to jobs in WIP as follows:
		Material	Labor	Machine Hours
	Job 111	40,000	15,000	15,000
	Job 112	70,000	25,000	23,000
	Job 113	50,000	5,000	22,000
	General use	10,000	25,000
	Total	170,000	70,000	60,000
	Make a journal for the material and the labor costs to jobs (2 Journals)
	5. Manufacturing overhead is applied at a rate of $4 per machine hour. There
	were 60,000 machine hours in the month. Make the entry to apply overhead.
	6. Jobs 111 and 112 were completed and transferred to finished Goods
	7. Job 111 was sold for $200,000. Make the journals for this.
	8. What is the over or under applied overhead amount ________________
				over or under__________________
	9. What is the total ending inventory incl RM, WIP and FG at 1/31/2019
	(Remember to count beginning inventory)