Use the provided chart of accounts below to prepare the general journal entries in the space provided for the following transactions and events that occurred in November for ABC Manufacturing Company who uses a job order costing system. (Do not abbreviate when writing journal entries.)

Chart of Accounts

Cash

Raw Materials Inventory

Goods in Process Inventory

Finished Goods Inventory

Accumulated Depreciation

Accounts Payable

Factory Payroll

Factory Overhead

Sales

Cost of Goods Sold

Rent Expense

Salaries Expense

Utilities Expense

(Write journal entries in proper journal entry format. Do not abbreviate when writing journal entries and make sure you identify which line is the Debit (DR) and which line is a Credit (CR) using one of the following two examples.)

Example 1: DR Cash 4,000

CR Revenue 4,000

OR

Debit Credit

Example 2: Cash 4,000

Revenue 4,000

OR

Example 3: Debit Cash 4,000 and Credit Revenue 4,000

a. Direct materials totaling $26,000 were requisitioned from the raw materials inventory to be used on jobs during the month.

b. Direct labor with a cost of $15,400 was used on jobs during the month.

c. Overhead was applied to jobs based on a predetermined overhead rate of 50% of direct labor cost.

d. Three jobs with a total cost of $463,000 were completed and transferred to finished goods.