Joumal Entries, T-Accourts, Cost of Goeds Manufactured and sold Dunng May, the following transactions were completed and repoted by Sylvara Congany: a. Materials purchased on accoun, $60,100; c. Peyroll for the monthy direct labor, $75,000; indirect laboc, $36,000; administrative, $28,000; sales, $19,000. d. Deprecistion on factory plant and equipment, 510,$00. e. Property taves on the factory accrued durien the month, $1,450. 1. Insurance on the factory expired with a creda to the prepaid insurance account, $6,200. 9. Factory utilties, 55,500 . h. Advertiving paid with cash, $7,900. L. Depreciation on offlice equipment, $890; on sales veticles; $1,680, 1. Legal fees incurred but not yet paid for preparatien of lease agirements, $750. k. Overbead is charged to production at a rate of $18 per direct laber bout, Records show 4,000 direct labor hours were warked during the mont 1. Cost of jobs completed during the manth, $160,000 The company abso reported the followiog beginning balances in its imvintery accounts wisct they were journalined. Fented TOned by What r Deat M, Wor decreasing sade? This will be helphil when postiog the fourtulired transactum 3. Prepare a statement of cost of goods manufoctured TCheck, My Work Create a Cost of Goods Manufactured Statement. If the overhead variance is all allocated to cost of goods sold, by how much will cost of goods sold decrease or increase? by 9 Foedos: TCheck My Work Consider what makes an overhead variance - over or underapplied overhead. Foodsack T Cheds My Wor: Partalily correct