journal entries

Canada Capital Company uses a job order costing system. The following data relate to October, the first month of the company year a. Raw materials were purchased on account, $230,000 b. Raw materials were issued to production, $208,000 ($195,000 direct materials and $13,000 indirect materials). c. Direct labour cost was incurred, $111.000; indirect labour cost was incurred, $99.000. d. Depreciation was recorded on factory equipment. $41,000. e. Other manufacturing overhead costs were incurred during October $77,000 (credit accounts payable). f. The company applies manufacturing overhead cost to production on the basis of $8.00 per machine hour. There were 33,000 machine hours recorded for October g. Production orders costing $570,000 according to their job cost sheets were completed during October and transferred to finished goods h. Production orders that had cost $525,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold at 25% above cost. The goods were sold on account