Ls were incurred in February by Container Corp, which produces customized steel storage bin Direct material purchased on account $125,440 20.160 $212.800 Direct material used for jobs Job #217 Job #218 Other jobs 150,080 295.680 Direct labor costs for month Job #217 $29,120 Job #218 39.200 Other jobs 54,880 123,200 616.000 Actual overhead costs for February The balance in Work in Process Inventory on February 1 was 147,040, which consisted of $31.360 for job #217 and $15,680 for job #218. The February beginning balance in Direct Material Inventory was $124,880. Actual overhead is applied to jobs at a rate of $4.95 per dollar of direct labor cost. Job #217 was completed and transferred to Finished Goods Inventory during February job #217 was delivered to the customer at the agreed-upon price of cost plus 35 percent. a. Prepare journal entries to record the preceding information. Note: List any multiple debits or any multiple credits in alphabetical order by account name. Account Raw Material mentors Accounts Payable To record raw materials purchased on account Wah in Process Raw Material inventers Debit Credit 4 5 6 7 8 To record the direct materials issued To record the labor costs To record actual overhead costs To record the application of OH To record completion of job #217 To record sales To record the cost of sales "vinarexamvarekerswan copyright Cambridge Business Publishers, All Rights Reserved