p02550zapageLZ enu Prior to the beginning of 2016, Stapleton Company estimated that it would incur $153,000 of manufact overhead cost during 2016, using 17,000 direct labor hours to produce the desired volume of January 1, 2016, beginning balances of Materials Inventory,Work in Process Inventory, and Finished Goods Inventory were $48,000, s-0-, and $87,000, respectively Required Prepare general journal entries to record the following for 2016: a. Purchased materials on account, $316,000 uring goods. On Description Debit Credit Materials inventory 316,000 Accounts payable 0 316,000 b. Of the total dollar value of materials used, $284,000 represented direct material and $35,000 indirect material Description Debit Credit Work in process inventory 284,000 Manufacturing overhead 35,000 Materials inventory 319,000 c. Determined total factory labor, $189,000 (18,000 hrs. @ $10.50/hr.) d. Of the factory labor, 15,800 were direct labor hours. Description Debit Credit Work in pracess inventory 165,900 Manufacturing 23,100 Wages payable 0 189,000 e. Applied manufacturing overhead based on direct labor hours to work in process. Debit Credit