the company estimated that it would work $1,040,000MH$ and had budgeted $$79,040,000$ for MOH. The following data $($in $ millions$)$ pertain to operations for the year $2022$

$($Click the icon to view the operations data $[$in millions$])$

Required

First, prepare the general journal entries.

$(1)$ Record the purchase of materials.

$(1)$ Accounts Journal Entry