The following transactions were incurred by Potvin Fabricators during January, the first month of its fiscal year. i (Click the icon to view the transactions.) $220,000 of materials was purchased on account. b. $186,000 of materials was used in production; of this amount, $143,000 was Requirements used on specific jobs 1. Record the proper journal entry for each transaction. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much? C. Manufacturing labor and salaries for the month totaled $215,000. A total of $200,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. d. The company recorded $25,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $14,000 which will be paid at a later date. a. $220,000 of materials was purchased on account. Record the entry. (Record debits first, then credits. Exclude explanations from any journ e. $81,000 of manufacturing overhead was allocated to specific jobs. Journal Entry f . The company received a bill for CAD design services for $1,000. Date Accounts Debit Credit Print Done b. $186,000 of materials was used in production; of this amount, $143,000 were used on specific jobs. Record the entry. Journal Entry Date Accounts Debit Credit c. Manufacturing labor and salaries for the month totaled $215,000. A total of $200,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. Record the entry. Journal Entry Date Accounts Debit CreditThe following transactions were incurred by Potvin Fabricators during January, the first month of its fiscal year. i (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? d. The company recorded $25,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $14,000 which will be paid at a later date. Record the entry. Journal Entry Date Accounts Debit Credit d. - X More info a. $220,000 of materials was purchased on account. e. $81,000 of manufacturing overhead was allocated to specific jobs. Record the entry. b. $186,000 of materials was used in production; of this amount, $143,000 was Journal Entry used on specific jobs. c. Manufacturing labor and salaries for the month totaled $215,000. A total of Date Accounts Debit Credit $200,000 of manufacturing labor and salaries was traced to specific jobs, and the remainder was indirect labor used in the factory. d. The company recorded $25,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $14,000 which will be paid at a later date. e. $81,000 of manufacturing overhead was allocated to specific jobs. F . The company received a bill for CAD design services for $1,000. f. The company received a bill for CAD design services for $1,000. Record the entry. Journal Entry Date Accounts Debit Credit Print Done Requirement 2. Was manufacturing overhead overallocated or underallocated? By how much? During January, actual manufacturing overhead costs totaled . By the end of January, a total of had been allocated to jobs. Therefore, manufacturing overhead had been 1 by