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FAM14-A1 (similar to) Question Help The following data (in thousands) summarize the factory operations of the Benson Manufacturing Company for the year 20X1, its first year in business: (Click the icon to view the data.) Requirements 1. Prepare summary journal entries. Omit explanations. For purposes of this problem, combine the items in part d as "overhead incurred." 2. Show the T-accounts for all inventories, Cost of Goods Sold, and Factory Department Overhead Control. Compute the ending balances of the inventories. Do not adjust for underapplied or overapplied factory overhead. Requirement 1. Prepare summary journal entries. Omit explanations. (Enter all amounts in thousands. Record debits first, then credits. Explanations are not required.) i Data Table - X a. Direct materials purchased for cash, $450. Journal Entry Accounts Debit Credit a. Direct materials purchased for cash S 450 b. Direct materials issued and used 400 C. Labor used directly on production 120 d1. Indirect labor 40 d2. Depreciation of plant and equipment 60 . Miscellaneous factory overhead (ordinarily would be detailed) 20 e. Overhead applied: 190% of direct labor f Cost of production completed 628 g. Cost of goods sold 408 Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? parts remaining Clear All Check