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 $45,620. b. Materials totaling $40,880 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 $8,870 was incurred and paid in cash. e Manufacturing overhead is charged to production at the rate of $5.40 per direct labor hour. f. Completed jobs costing $60,000 were transferred to Finished Goods. g. 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 jobs. Beginning balances as of July 1 were: Materials Inventory $1,200 Work-in-Process Inventory 3,400 Finished Goods Tnventory 2.620 Required: 1. Prepare the journal entries for the preceding events. a C. d. 9 (1). 9 (2) 2. Calculate the ending balances of: a. Materials Inventory $ b. Work-in-Process Inventory 2. Calculate the ending balances of: a. Materials Inventory b. Work-in-Process Inventory oldu C. Overhead Control d. Finished Goods Inventory