Part 1 of 19 HW Score: 40.71%, 4.88 of 12 points O Points: 0 of 2 Save Creation Company produces gadgets for the coveted small appliance market. The following data reflect activity for the year 2020 (Click the icon to view the data) Creation Co. uses a normal-coating system and allocates overhead to work in process at a rate of $2.00 per direct manufacturing labor dollar. Indirect materials are insignificant so there is no inventory account for indirect materials. Read the requirements Requirement 1. Prepare joumal entries to record the transactions for 2020 including an entry to close out under- or overallocated overhead to cost of goods sold For each journal entry indicate the source document that would be used to authorize each entry. Also note which subsidiary ledger, if any, should be referenced as backup for the entry (Record debits first, then credits Exclude aplications from any pumantes) Record the purchase of direct materials, $126,000 Journal Entry (1.) Accounts Debit Credit Help Me Solve This Clear Al eText Pages Get More Help - Check Answer