Question 17 Not yet answered Marked out of 20.00 P Flag question Finn Manufacturing Company uses a job order cost accounting system and keeps perpetual inventory records. Prepare Journal entries to record the following transactions during the month of June. June 1 Purchased raw materials for $20,000 on account. 8 Raw materials requisitioned by production: Direct materials $8,000 Indirect materials 1.000 15 Paid factory utilities. $2.100 and repairs for factory equipment, $8,000. 25 Incurred $108,000 of factory labor. 25 Time tickets indicated the following: Direct Labor (7.000 hrs $12 per hr) = $84.000 Indirect (3,000 hrs $8 per hr) = 24.000 Labor $109,000 25 Applied manufacturing overhead to production based on a predetermined overhead rate of $7 per direct labor hour worked 28 Goods costing $18,000 were completed in the factory and were transferred to finished goods. 30 Goods costing $15.000 were sold for $20.000 on account. 1 A BI EE % PA