The following transactions were incurred by Howe Fabricators during January, the first month of its fiscal year. (Click the icon to view the transactions.) Requirements 1. Record the proper journal entry for each transaction. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? a. $215,000 of materials was purchased on account. Record the entry. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Journal Entry Accounts a. Raw Materials Inventory Accounts Payable Debit 210,000 Credit 210,000 to view the transactions.) per j Janu More info - X a. $215,000 of materials was purchased on account. nateria from a b. $190,000 of materials was used in production; of this amount, $164,000 was used on specific jobs. Raw Acco c. Manufacturing labor and salaries for the month totaled $210,000. A total of $180,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. d. The company recorded $15,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $8,000 which will be paid at a later date. e. $70,000 of manufacturing overhead was allocated to specific jobs. f. The company received a bill for CAD design services for $9,000. Print Done