Question 2 Journal Entries and T Accounts The Top New Company uses a job order costing system. The following data relate to October the first month of the company's fiscal year a. Raw material purchased on account, 210,000. b. Raw materials issued to production, $190,000 ($178,000 direct materials and $12,000 indirect materials) c. Direct labor cost incurred, $90,000; indirect labor cost incurred $110,000. d. Depreciation recorded on factory equipment, $40,000 e. Other manufacturing overhead cost incurred during October, $70,000 (credit accounts payable) f. The company applies m machine-hour. A total of 30,000 machine hours were recorded for October overhead cost to production on the bases of $8.00 per g. Production orders costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Production orders that had cost $80,000 to complete according to their job cost sheets were supplied to customers during the month. These goods were sold on account at 25% above cost