kindly refer to the attached photos.

REQUIRED:

1. journalize the following transactions
2. post to selected accounts: Raw Materials Inventory Account, Work-in-Process account, Manufacturing Overhead Account, Finished Goods Inventory Account

High STREt ufacturing Company has the following account balances at the begmnmg of the current year: - . Raw materials inventory P50,000 Work in process inventory 150 000 Finished Goods 120,000 Below is the summary of transactions for the month of January: ' (a) Purchased of Raw Materials: On account, P200300; Cash, P80000- (b) Issuance of Raw Materials to the production department, P180,000 of which 10% is indirect materials. (c)_ Company payroll for the month: Factory payroll consisted of P120,000 for direct labor and P25,000 for indirect laborers; Marketing and Administrative payroll amounts to P40,000 and P80,000, respectively. (Use Marketing Expense control and Administrative expense control for marketing and administrative expenses) ((1) The following were accrued at the end of the month: (a) Electricity costs, ' ' 122,000,- (b) Rent, 1310300 and (c) Taxes and permits, Pause. Of the given expenses, 50% is allocated to factory, 20% to marketing and 30% to administrative. (e) Depreciation for the month: Factory plant and equipment, P7500; Office furniture and equipment, P7,500 (l) Expired insurance, P10,000, allocated in the same manner as in (d). (3) Overhead is applied to production. ' 1 (11) At the end of the month, unniJsiied jobs totaled P75,000 and unsold finished goods amounted to P90,000. in (0 High Street Manufacturing Company uses the actual COSt 55'5\"!\" accumulating cost and perpetual inventory system in accounting for Its a i' inventory. The company's mark-up on cost is maintained at 40 16 for the past two years all on a 30 days term