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Problem - Journal Entries for a Manufacturer (24 points) Prepare journal entries to record the following summarized operations related to production for a company using

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Problem - Journal Entries for a Manufacturer (24 points) Prepare journal entries to record the following summarized operations related to production for a company using a job order cost system. Omit explanations. a. Materials purchased on account $ 167,000 b. Materials requisitioned: For production orders 153,700 For general factory use 2,700 c. Factory labor used: On production orders 141,300 For general factory purposes 12,000 d. Factory overhead costs incurred: Depreciation of factory equipment 67,000 Utilities paid in cash 100,000 e. Factory overhead applied, predetermined rate 100% of direct ? labor dollars f. Cost of jobs transferred to Finished Goods 415.300 8. Jobs sold on account: cost $412,000; selling price 638,000 h. Closed the under- or over-applied overhead account balance. ? Journal Entries for a Manufacturer (24 points) DATE DESCRIPTION POST REF DEBIT CREDIT 1 1 2 2 3 3 4 4 5 6 5 6

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