Problem #6 A) Prepare Journal Entries for these transactions Note: Just-in-time company, beginning Work in Process is $0, beginning Finished Goods is $0, beginning Raw Materials is $30,000 1. Purchased raw materials (60,000 pounds) on account payable $120,000 2. Transferred $90,000 (45000 pounds) to Department 1. 3. Paid payroll: $108,000 direct labor Department 1, $64,000 direct labor to Department 2, and $50,000 to Indirect Labor. 4. Paid Current Overhead Payables of $130,000 5. Applied Overhead: $85,000 to Department 1, $45,000 to Department 2. I 6. Transferred $200,000 from Department 1 to Department 2. 7. Transferred 97% of units from Department 2 to Finished Goods 8. Sold 100% of Finished Goods