Required: 1. Prepare the journal entries for the preceding events. a. b. C. d. e. .. 1 1 1 1 1 1 1 f. 9 (1). g (2) 2. Calculate the ending balances of: $ a. Materials Inventory $ b. Work-in-Process Inventory $ c. Overhead Control O'TI $ d. Finished Goods Inventory o Accounts Payable Accounts Receivable Cash Cost of Goods Sold Finished Goods Materials Overhead Control Work in Process Journal Entries, T-Accounts Ehrling Brothers Company makes jobs to customer order. During the month of July, the following occurred: a. Materials were purchased on account for $45,760. b. Materials totaling $40,980 were requisitioned for use in producing various jobs. c. Direct labor payroll for the month was $25,600 with an average wage of $16 per hour. d. Actual overhead of $8,860 was incurred and paid in cash. e. Manufacturing overhead is charged to production at the rate of $5.40 per direct labor hour. f. Completed jobs costing $58,000 were transferred to Finished Goods. g. Jobs costing $59,000 were sold on account for $ 73,850. Make the entry to record the revenue from the sale first, followed by the entry to record the cost of the jobs. Beginning balances as of July 1 were: Materials Inventory $1,300 Work-in-Process 3,400 Inventory Finished Goods 2,620 Inventory