Jorgensen 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		3 pounds at $1.10 per pound		$3.30
Direct labor		1.10 hour at $9.00 per hour		9.90
Overhead		2 hours (variable $4.30 per machine hour; fixed $3.40 per machine hour)		15.40
Standard cost per unit				$28.60

Normal capacity for the month was 4,340 machine hours. During January, the following transactions applicable to Job No. 12 occurred.

1.		Purchased 6,800 pounds of raw materials on account at $1.17 per pound.
2.		Requisitioned 6,800 pounds of raw materials for Job No. 12.
3.		Incurred 2,300 hours of direct labor at a rate of $8.95 per hour.
4.		Worked 2,300 hours of direct labor on Job No. 12.
5.		Incurred manufacturing overhead on account $32,690.
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 $150,000.

Journalize the transactions Post to the job order cost accounts.

No. Account Titles and Explanation Debit Credit 2. (To record sales.) Raw Materials Inventory Factory Labor Manufacturing Overhead Materials Price Variance Materials Quantity Variance Labor Price Variance Labor Quantity Variance Work in Process Inventory Finished Goods Inventory Cost of Goods Sold No. Account Titles and Explanation Debit Credit 2. (To record sales.) Raw Materials Inventory Factory Labor Manufacturing Overhead Materials Price Variance Materials Quantity Variance Labor Price Variance Labor Quantity Variance Work in Process Inventory Finished Goods Inventory Cost of Goods Sold