Just Do 5 and 6Please answer completely, thanks so much)

Each student on your team will present the journal entries for two consecutive transactions undertaken by Kodiak Company in the month of October. There are a total of 8 transactions, so teams with 3 members will present a total of 6 journal entries, while teams with 4 members will present 8 journal entries.

For full credit, be sure to:

1. Type or paste your journal entries directly into the reply box (no attachments, please).
2. Present your journal entries in good form, including the date, the accounts to be debited and credited, the amounts, and a brief description.

PARTICULARS

Kodiak Company uses a job-order costing system. The following data relate to October, the first month of the companys fiscal year.

1. Purchased $210,000 of raw materials on account on October 3.

2. Used a total of $178,000 of direct materials in the production of Jobs 225 and 226, recorded on materials requisitions dated October 6.

3. Incurred $12,000 of indirect materials costs, supported by materials requisitions, on October 7.

4. Incurred direct labor cost of $90,000, supported by time tickets dated October 10.
5. Other factory overhead costs incurred during the month of October, $70,000 (credit Accounts Payable).
6. The company applies manufacturing overhead cost to production on the basis of $8 per machine-hour. A total of 30,000 machine-hours were recorded for October.
7. Production orders costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods.
8. Production orders that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These goods were sold on account at 25% above cost.

Note: transactions 5, 6, 7, and 8 should all be recorded as of October 31.