Journal Entries, T. Accounts Ehrling Brothers Company makes jobs to customer order. During the month of July, the following occurred: a. Materials were purchased on account for $45,760 b. Materials totalino 140,980 were requisitioned for use in producing various jobs. c. Direct labor payroll for the month was $25,600 with an average wage of $16 per hour. d. Actual overhead of $8,860 was incurred and paid in cash. o. Manufacturing overhead is charged to production at the rate of $5.40 per direct labor hour. t. Completed Jobs costing 559,000 were transferred to Finished Goods 9. Jobs costing $59.000 were sold on account for $73,750, Make the entry to record the revenue from the sale first, followed by the entry to record the cost of the Jobs Beginning balances as of July I were: Materials Inventory $1,300 Work in Process Inventory 2.400 Finished Goods Inventory 2,640 Required: 1. Prepare the journal entries for the preceding events b Next > o O 70F Mostly sunny ~ 2001 10 D D C Home End Insert FO BA % 5 & 7 ( 9 ) 0 + 11 6 oa 8 = Required: 1. Prepare the journal entries for the preceding events. . b. d. 0000000 0000000 4 g(1) d. 9 (1). 00000 0 0 0 0 0 JIJI 0 (2) 2. Calculate the ending balances of: 3. Materials inventory b. Work in Process Inventory Overhead Control d. Finished Goods Inventory