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Prepare journal entries for the following information a) Raw materials purchased on account, $175,000 b) Materials requisitioned for use in production, direct materials,$140,000; indirect materials,

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Prepare journal entries for the following information a) Raw materials purchased on account, $175,000 b) Materials requisitioned for use in production, direct materials,$140,000; indirect materials, $23,000. c) Incurred manufacturing wages, direct labor $101,000 and indirect labor $33,000 d) Depreciation on factory building $42,000 e Other miscellaneous factory costs incurred, $19,000 (credit - accts payable) Manufacturing overhead is allocated at $5 per machine hour, A total of 25,000 machine hours were recorded for the month. Production Cost of jobs completed, $118,000 transferred to finished goods. h) Jobs sold to customers on account: sales price, $236,000, cost of jobs $118,000. Accounts Letter Debit Credit

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