P2-3A. Journal Entries Taylor Manufacturing Company uses the perpetual inventory system to record transactions related to its manufacturing inventories. The following transactions occurred during March 2016:

Mar. 6 Recorded the payroll: $10,000 of direct labor and $2,000 of indirect labor.

8 Received $14,000 of materials and components that had been ordered on account.

10 Completed product costing $22,000 and transferred it to the warehouse. Requisitioned

$5,000 of material for use in the factory; $4,000 was used as direct material and the remainder was used as indirect material.

12 Sold on account product costing $3,000 for $4,500.