View transaction list View journal entry worksheet :X: 1 The raw materials were purchased for use in production, $290,000 on account. 2 The raw materials used in production (all direct materials), $275,000. 3 The utility bills were incurred on account, $77,000 (90% related to factory operations, and the remainder related to selling and administrative activities). 4 The salary and wage costs accrued were $320,000 (Direct labor), $108,098 (Indirect labor), $200,000 (Selling and administrative salaries). 5 The maintenance costs were incurred on account in the 2 Note : journal entry has been entered MacBook Air 388 ! se % 5 & 7 1 0 7 2 3 6 8 9 W E R T Y U 1 o P S D F G H J L N C V B N M V. V Read art #2 Seved Help Save & Exit Submit Direct labor (970 hours) Indirect labor Selling and administrative salaries $ 320,000 $ 100,000 $ 200,000 e. Maintenance costs incurred on account in the factory, $72,000 f. Advertising costs incurred on account, $154,000. 9. Depreciation was recorded for the year $90,000 (75% related to factory equipment, and the remainder related to selling and h. Rental cost incurred on account, $115,000 (80% related to factory facilities, and the remainder related to selling and administrative 1. Manufacturing overhead cost was applied to jobs, $_2 J. Cost of goods manufactured for the year, $950,000 k. Sales for the year (all on account) totaled $2,100,000. These goods cost $980,000 according to their job cost sheets. The balances in the inventory accounts at the beginning of the year were: Raw Materials Work in Process Finished Goods 548,000 $39,000 $78,000 Required: 1. Prepare journal entries to record the preceding transactions 2. Prepare a journal entry to close any balance in the Manufacturing Overhead account to Cost of Goods Sold. Complete this question by entering your answers in the tabs below. Reg 1 Reg2 Prepare journal entries to record the preceding transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field) MacBook Air