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 were requisitioned for use in producing various jobs. c. Direct labor payroll for the month was $19,200 with an average wage of $12 per hour. d. Actual overhead of $8,850 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 $58,000 were transferred to Finished Goods. g. 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 1 were: Materials Inventory $1,300 3,400 Work-in-Process Inventory Finished Goods Inventory 2,640 Required: 1. Prepare the journal entries for the preceding events. 9 (1). g (2). 2. Calculate the ending balances of: a. Materials Inventory b. Work-in-Process Inventory c. Overhead Control d. Finished Goods Inventory