Perez Mfgs September 30, inventory of raw materials is $145,000. Raw materials purchases is October are $425,000, and factory payroll cost in September is $323,500. Overhead costs incurred in October are: indirect materials, $34,000; indirect labor, $16,000; factory rent, $22,500; factory utilities, $11,500; and factory equipment depreciation $28,000. The predetermined overhead rate is 75% of direct labor costs. Job 221 is sold for $405,000 cash in September. Cost of the three jobs worked on in October follow.

	Job 221	Job 222	Job 223
Balances as of Sep 30
Direct Materials	$ 16,500	$ 17,000
Direct Labor	24,000	18,000
Applied OH	18,000	13,500
Costs During Oct
Direct Materials	$105,000	$165,000	$ 90,000
Direct Labor	32,000	72,000	120,000
Applied OH
Status on Oct 31	Finished (sold)	Finished (unsold)	In Process

• Determine the cost of total production for each job.
• Prepare journal entries for the following:
  • Materials purchases
  • Direct Materials used
  • Indirect labor paid and applied to OH
  • Direct labor paid and assigned to WIP
  • Overhead costs applied to WIP
  • Actual Overhead costs
  • Amount transferred to finished goods inventory
  • Cost of goods sold