Raw materiale ed in production des of ladie l werk is on Company es predetermined overhead rate of 150% of direct labor cost. Prepare joumal entries for the following transactions and events (a) Purchase of raw materials on account Use of raw materials in production to Work in Process Inventory and Factory Overhead. ) 120 00 (l) Recording of other factory paid in cash. (e) Applied Factory Overhead to Work in Process Inventory. (Transfer of goods completed to Finished Goods Inventory. overhead. Assume that all items other than depreciation are and Factory Overhead Recording cost of goods sold. (h) Assignment of over- or underapplied overhead to Cost of Goods Sold. Raw materiale ed in production des of ladie l werk is on Company es predetermined overhead rate of 150% of direct labor cost. Prepare joumal entries for the following transactions and events (a) Purchase of raw materials on account Use of raw materials in production to Work in Process Inventory and Factory Overhead. ) 120 00 (l) Recording of other factory paid in cash. (e) Applied Factory Overhead to Work in Process Inventory. (Transfer of goods completed to Finished Goods Inventory. overhead. Assume that all items other than depreciation are and Factory Overhead Recording cost of goods sold. (h) Assignment of over- or underapplied overhead to Cost of Goods Sold