Starr Company shows the following information for the month. Raw materials purchased on credit Direct materials used Direct labor used Overhead rate $ 76,600 $ 54,800 $ 20,900 130% of direct labor cost Prepare journal entries to record the following. 1. Raw materials purchased. 2. Direct materials used. 3. Direct labor used. 4. Applied overhead. View transaction list Journal entry worksheet Record raw materials purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $8,700, direct labor of $3,200, and applied overhead of $2,720. Custom Cabinetry applies overhead at the rate of 85% of direct labor cost. During July, Job 120 is sold (on credit) for $23,000, Job 121 is started and completed, and Job 122 is started and still in process at the end of July. Custom Cabinetry incurs the following costs during July. Job 120 Job 121 Job 122 Direct materials used $ 2,800 $ 6,400 $ 4,000 Direct labor used 2,900 4,400 3,300 1. Prepare journal entries for the following July transactions and events a through e. a. Direct materials used. b. Direct labor used. c. Overhead applied. d. Sale of Job 120. e. Cost of goods sold for Job 120. Hint. Job 120 has costs from June and July. 2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory accounts. (There were no jobs in Finished Goods Inventory at June 30.) a Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries for the following July transactions and events a through e. View transaction lit Journal entry worksheet The following information is available for a custom manufacturer. $ 19,360 45,050 23,700 Inventories Costs incurred for the period Raw materials, beginning $ 39,900 Raw materials purchases Work in process, beginning 13,300 Direct materials used Finished goods, beginning 9,650 Direct labor used Cost of goods manufactured 96,190 Factory overhead (actual) Cost of goods sold (not considering over- or underapplied overhead) 84,100 Indirect materials used Sales 100,900 Indirect labor used Predetermined overhead rate based on direct materials used 805 Other overhead costs 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. 10,200 17,300 5,200 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute overapplied or underapplied overhead.