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$-12$

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Waterway Company installed a standard cost system on January $1.$ Selected transactions for the month of January are as follows.

Purchased $17,600$ units of raw materials on account at a cost of $$3\mathrm{.}60$ per unit. Standard cost was $$3\mathrm{.}30$ per unit.

Issued $17,600$ units of raw materials for jobs that required $17,250$ standard units of raw materials.

Incurred $16,000$ actual hours of direct labor at an actual rate of $$4\mathrm{.}60$ per hour. The standard rate is $$5\mathrm{.}10$ per hour. $($Credit Factory Wages Payable.$)$

Performed $16,000$ hours of direct labor on jobs when standard hours were $16,130.$

Applied overhead to jobs at the rate of $100\%$ of direct labor cost for standard hours allowed.

Journalize the January transactions. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit