Sunrise Homes manufactures prefabricated chalets in Colorado. The company uses a perpetual inventory system and a job cost system in which each chalet is a job. The following events occurred during May: Click the icon to view the events.) Read the requirements. Requirement 1. Record the events in the general journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Start with the entry from event (a). Purchased materials on account, $430,000. Journal Entry Date Accounts Debit Credit a. More Info - x a. Purchased materials on account, $430,000. b. Incurred total manufacturing wages of $111,000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows: Direct Labor Chalet 13 $ 14,400 Chalet 14 $ 28,200 Chalet 15 $ 19,600 Chalet 16 $ 21,000 c. Requisitioned direct materials in manufacturing as follows: Direct Materials Chalet 13 41,500 Chalet 14 $ 56,900 Chalet 15 $ 62,800 Chalet 16 $ 66,900 d. Depreciation of manufacturing equipment used on different chalets, $6,700. e. Other overhead costs incurred on Chalets 1316: Equipment rentals paid in cash $ 10,000 Print Done Requirements 1. Record the preceding events in the general journal. 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Work in Process Inventory. 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals the ending balance in Finished Goods Inventory. 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Sunrise Homes? Print Done