Section 1: Job Order Journal Entries Fanini Manufacturing Company Prepare journal entries to record the following transactions during the month of June. job order cost accounting system and keeps perpetual inventory records. uses a June 1 Purchased raw materials for $20,000 aw on account. Raw materials requisitioned by production: Direct materials Indirect materials 8 $8,000 1,000 Paid factory utilities, $2,100, repairs for factory equipment, $8,000, pre-paid factory insurance $1,000, And factory accumulated depreciation $500. 15 17 Depreciation on the office building $8,100. was Incurred $96,000 of factory labor, wages payable $86,000, and wages payable $10,000 were Time tickets indicated the following Direct Labor Indirect Labor (3,000 hrs x $8 per hr) 25 (6,000 hrs X $12 per hr) $72,000 24,000 $96.000 Applied manufacturing overhead to production based on a labor hour worked. predetermined overhead rate of $7 per direct Goods costing $18,000 were completed in the factory and were transferred to finished goods. 28 Goods costing $15,000 were sold for $20,000 30 on account. Journal Entries Dr Cr. June 1 I II 25 25