Journal Entries

Porter Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Porter's transactions during September.

Sept. $5$ Received material costing $$4,500$ from a supplier. The material was purchased on account.

$9$ Requisitioned $$10,500$ of material for use in the factory, consisting of $$8,400$ of direct material and $$2,100$ of indirect material.

$11$ Recorded the factory payroll: $$21,000$ of direct labor and $$3,000$ of indirect labor.

$17$ Incurred various overhead costs totaling $$22,500.($Credit Accounts Payable.$)$

$20$ Applied $$31,500$ of manufacturing overhead to the products being manufactured.

$23$ Completed product costing $$25,500$ and moved it to the warehouse.

$26$ Sold goods with a product cost of $$6,000$ on account for $$9,000.$