Prepare summary journal entries to record the following transactions for a company in its first month of operations Raw materials purchased on account, $102,000 Direct materials used in production, $42,500 Indirect materials used in production, $15,000 Paid cash for factory payroll, $55,000 Of this total, $37,000 is for direct labor and $18,000 is for indirect labor Paid cash for other actual overhead costs, $8,375 Applied overhead at the rate of 125 of direct labor cost Transferred cost of jobs completed to finished goods, $72,600 Sold jobs on account for $104,000 g(2) The jobs had a cost of $72,600 g(1) Prepare summary journal entries to record the following transactions for a company in its first month of operations a Raw materials purchased on account, $102,000 b Direct materials used in production, $42,500 Indirect materials used in production, $15,000 c Paid cash for factory payroll, $55,000 Of this total, $37,000 is for direct labor and $18,000 is for indirect labor d Paid cash for other actual overhead costs, $8,375 e Applied overhead at the rate of 125 of direct labor cost f Transferred cost of jobs completed to finished goods, $72,600 g Sold jobs on account for $104,000 g(2) The jobs had a cost of $72,600 g(1)

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Prepare summary journal entries to record the following transactions for a company in its first month of operations. Raw materials purchased on account, $102,000. Direct

Prepare summary journal entries to record the following transactions for a company in its first month of operations.

Raw materials purchased on account, $102,000.
Direct materials used in production, $42,500. Indirect materials used in production, $15,000.
Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor.
Paid cash for other actual overhead costs, $8,375.
Applied overhead at the rate of 125% of direct labor cost.
Transferred cost of jobs completed to finished goods, $72,600.
Sold jobs on account for $104,000 g(2). The jobs had a cost of $72,600 g(1)

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Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $72,600. g. Sold jobs on account for $104,000 g(2). The jobs had a cost of $72,600 g(1)