You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $23,000; Work in Process Inventory, $10,705 ($2,860 of direct materials and $7,845 of conversion); Finished Goods Inventory, $150,000; Sales, $0; Cost of Goods Sold, $0; Factory Payroll Payable, $0; and Factory Overhead, $0.

1.Prepare journal entries to record the following July transactions and events.

1. Purchased raw materials for $135,000 cash (the company uses a perpetual inventory system).
2. Used raw materials as follows: direct materials, $58,740; and indirect materials, $12,000.
3. Recorded factory payroll payable costs as follows: direct labor, $207,250; and indirect labor, $27,000.
4. Paid factory payroll cost of $234,250 with cash (ignore taxes).
5. Incurred additional factory overhead costs of $84,000 paid in cash.
6. Allocated factory overhead to production at 50% of direct labor costs.

Please Help