THE FOLLOWING INFORMATION APPLIES TO QUESTIONS Wayland

Manufacturing uses a normal cost system and had the following data available for

20X5:

Direct materials purchased on account

$ 74,000

Direct materials requisitioned

41,000

Direct labor cost incurred

65,000

Factory overhead incurred

73,000

Cost of goods completed

146,000

Cost of goods sold

128,000

Beginning direct materials inventory

13,000

Beginning WIP inventory

32,000

Beginning finished goods inventory

29,000

1.

Give the journal entry to record the materials placed into production.

2.

Give the journal entry to record the conversion costs.

3.

Give the journal entry to record finished goods transferred to warehouse.

4.

The ending balance of direct materials inventory is:

5.

The ending balance of work-in-process inventory is:

6.

The ending balance of finished goods inventory is:

7.Give the entry if the goods were sold for cash at 150% of cost using perpetual

inventory system.