Journal Entries, T-Accounts Lincoln Brothers Company makes jobs to customer order. During the month of May, the following occurred: a. Materials were purchased on account for $51,200. b. Materials totaling $43,600 were requisitioned for use in producing various jobs. c. Direct labor payroll for the month was $26,100 with an average wage of $18 per hour. d. Actual overhead of $12,450 was incurred and paid in cash. e. Manufacturing overhead is charged to production at the rate of $6.20 per direct labor hour. f. Completed jobs costing $61,750 were transferred to Finished Goods. g. Jobs costing $64,200 were sold on account for $80,250. 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 May, 1 were: Materials Inventory Work-in-Process Inventory $2,200 3,800 3,460 Finished Goods Inventory Required: 1. Prepare the journal entries for the preceding events. a. Materials Accounts Payable b. Work in Process Matoriste 51,200 51,200 43,600 J