Major League at Company manufactures baseball bats. In action to its work in process inventones, the company maintains Inventos of me and fished goods. It uses raw materials as direct means in production and as indic materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process Required You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances Goods Inventory $200000 Sees So Cal of Goods Soon we 83 660 of direct meals and $7.025 of conversion Finished 1. Prepare journal entries to record the following July transactions and events Purchased raw materials for $215.000 Used raw mates as follows: direct materials. $70.090 and indirect mate$20.000 d. incured omer actual factory overhead cost of $227,200 and indirect labor $35,000 Applied factory overhead to production at 50% of direct labor costs 2 Information about the July work in process (WIP) invertory follons. Use this information with that from part to prepare a production cost report, assuming the weighted average method is used. gming entry 3. Using the results from part 2 and the available information, make computations and prepare journal entries to record the 3. Using the results from part 2 and the avaliable information, make computations and prepare journal entries to record the following: Total costs transferred to finished goods for July. g. Sale of finished goods costing $315.700 for $725,000 in cash. 4. Post entries from parts 1 and 3 to the following general ledger accounts. 5. Compute the amount of gross profit from the sales in July Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Required 5 Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $215.000 cash. b. Used raw materials as follows: direct materials, $70,090; and indirect materials. $20,000. c. Recorded factory wages payable costs as follows: direct labor $227,250) and indirect labor, $35,000. d. Incurred other actual factory overhead costs of $58.625 paid in cash. e. Applied factory overhead to production at 50% of direct labor costs. View transaction list Journal entry worksheet 3 4 5 6 7 Record the purchase of raw materials for cash. Show less View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 a. No Transaction Recorded 2 b1. No Transaction Recorded 3 b2. No Transaction Recorded 4 c1. No Transaction Recorded 6 d. No Transaction Recorded Dr Mout