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 totaling $40,980 ware requisitioned for use in producing various jobs. 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. e, Manufacturing overhead is charged to production at the rate of $5.40 per direct labor hour 1. Completed jobs costing $58,000 were transferred to Finished Goods 9. Jobs costing $58,000 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 jo Beginning balances as of July 1 were: Materials Inventory $1,300 Work-in-Process Inventory 3,400 Finished Goods Inventory 2,620 Required: 1. Prepare the journal entries for the preceding events. a b I DO 1 C. d & . +14 9 (1) 14 14 0 0 0 0 0 0 0000.00 DINI 9 (2) 2. Calculate the ending balances of: a. Materials Inventory b. Work in Process Inventory c. Overhead Control d. Finished Goods Inventory