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