JOURNALIZE ENTRIES

Haslett Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,600 units of Product B was received. The standard cost of one unit of Product B is as follows.

Direct materials		2 pounds at $1.50 per pound		$ 3.00
Direct labor		1.00 hour at $9 per hour		9.00
Overhead		2 hours (variable $4.50 per machine hour; fixed $3.00 per machine hour)		15.00
Standard cost per unit				$27.00

Normal capacity for the month was 4,380 machine hours. During January, the following transactions applicable to Job No. 12 occurred.

1.		Purchased 3,824 pounds of raw materials on account at $1.58 per pound.
2.		Requisitioned 3,824 pounds of raw materials for Job No. 12.
3.		Incurred 1,728 hours of direct labor at a rate of $8.88 per hour.
4.		Worked 1,728 hours of direct labor on Job No. 12.
5.		Incurred manufacturing overhead on account $34,540.
6.		Applied overhead to Job No. 12 on basis of standard machine hours allowed.
7.		Completed Job No. 12.
8.		Billed customer for Job No. 12 at a selling price of $152,000.