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show works for maximum credits salazar company completed the following transactions with respect to its manufacturing operations during October 2016: A. Materials costing $140,000 and

show works for maximum credits salazar company completed the following transactions with respect to its manufacturing operations during October 2016:

A. Materials costing $140,000 and indirect materials costing $16,800 were purchased on account. Assume indirect materials was debited to materials .

B. A total of $70,000 of materials was requisitioned to the factory for manunfacturing opreations conducted during October

. C. Manufacturing payroll for the month of consisted of 2,000 hours of direct labor and 500 hours of indirect labor, both at $14 per hour.

D. Indirect materails costing $7,000 were requisitioned.

E. Depreciation on the factory building and equipment was $14,000.

F. Miscellaneous factory overhead expenses totaled $5,600 for October.

G. Factory overhead cost was applied to workl in process at the rate of 125 percent of direct labor cost.

H. Units of product with a total manufacturing cost of $84,000 were completed and transferred to the finisned goods warehouse.

I. Finished goods costing $49,000 were sold during October for $77,000 cash.

Reguired: prepare journal entires for each of the transactions that occured during October 2016.

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