Timmy's company manufactures widgets One of their clients requested some special custom widgets, which was labeled as Job ID#112 and requires 8,200 direct labor hours, The following transactions were recorded for the year, - Purchased 148,500 of raw materials using cash. - Raw materials including direct materials $223,500 and indirect materials $68,500 were put into production - The company incurred $249,800 for direct labor and $130,000 for indirect labor. During the period, the company has also incurred the following factory costs $70,000 for utilities and $25,300 for supplies. - The company recognized $23,600 in depreciation of tactory equipment. $807 400 of the job was completed by the end of the period. The company allocated overhead cost to the job on the basis of direct labor hours worked. For the current year, the company estimated that it would require 13,300 direct labor hours and incur $266,000 of manufacturing overhead. The widgets were sold on account for 51,683,200. The cost to manufacture these products was $1,339,900 Do not enter dollar signs or commas in the input boxes Round the predetermined overhead to 2 decimal places Bound all other answers to the nearest whole number Job #112 costing card Mats Lat: 5 MES Finish Timeler Labs MOHS Tots by complete the following manufacturing journal entries representing loborder costing Date Account Title and beplanation Debit Credit 1 Raw Material ca To verodoch material with wie Martuning old ME le due and indicato proximo Manning Overhad To record purchase of raw materials with cash 2 WIP Manufacturing Overhead Raw Materials Enter direct and indirect materials into production 3 WIP Manufacturing Overhead Wages Payable To apply direct and indirect labor Manufacturing Overhead Accounts Payable To record factory costs for utilities and supplies 5 Manufacturing Overhead Accumulated Depreciation To record depreciation on factory equipment WIP Manufacturing Overhead 5 Manufacturing Overhead Accumulated Depreciation To record depreciation on factory equipment 6 WIP Manufacturing Overhead To record allocated manufacturing overhead 7 Finished Goods Inventory WIP To transfer WIP to finished goods inventory 8 Accounts Receivale Sales Revenge Yo record sales revenue 9 Cost of Goods Sold Fished goods inventory To record cost of goods sold