NAME
During August, the following transactions were recorded at Gurdeep Corporation. The company uses process costing.
(1) Raw materials that cost $24,500 are withdrawn from the storeroom for use in the Assembly Department. All of these raw materials are classified as direct materials.
(2) Direct labor costs of $29,000 are incurred, but not yet paid, in the Assembly Department.
(3) Manufacturing overhead of $58,900 is applied in the Assembly Department using the department's predetermined overhead rate.
(4) Units with a carrying cost of $101,200 finish processing in the Assembly Department and are transferred to the Painting Department for further processing.
(5) Units with a carrying cost of $106,100 finish processing in the Painting Department, the final step in the production process, and are transferred to the finished goods warehouse.
(6) Finished goods with a carrying cost of $95,100 are sold.
Required:
Prepare journal entries for each of the transactions listed above.
	Account Description				Debit $		Credit $
(1)
	To record direct materials issued to production
	Account Description				Debit $		Credit $
(2)
	To record direct labor costs incurred but not paid.
	Account Description				Debit $		Credit $
(3)
	To record application of manufacturing overhead
	Account Description				Debit $		Credit $
(4)
	To record cost of goods completed by Assembly and transferred to Painting
	Account Description				Debit $		Credit $
(5)
	To record cost of goods completed in Painting and transferred to Finished Goods warehouse
	Account Description				Debit $		Credit $
(6)
	To record cost of goods sold