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, $33,000; Work in Process Inventory, $9,735 ($3,360 of direct materials and $6,375 of conversion); Finished Goods Inventory, $140,000; Sales, $0; Cost of Goods Sold, $0; Factory Payroll Payable, $0; and Factory Overhead, $0. Prepare journal entries to record the following July transactions and events.

1. Purchased raw materials for $185,000 cash (the company uses a perpetual inventory system).
2. Used raw materials as follows: direct materials, $56,640; and indirect materials, $17,000.
3. Recorded factory payroll payable costs as follows: direct labor, $219,750; and indirect labor, $32,000.
4. Paid factory payroll cost of $251,750 with cash (ignore taxes).
5. Incurred additional factory overhead costs of $94,000 paid in cash.
6. Allocated factory overhead to production at 50% of direct labor costs.

2. Information about the July inventories follows. Use this information with that from part 1 to prepare a process cost summary, assuming the weighted-average method is used. (Round "Cost per EUP" to 2 decimal places.)

Units
Beginning inventory	10,000	units
Started	14,000	units
Ending inventory	8,000	units
Beginning inventory
MaterialsPercent complete	100	%
ConversionPercent complete	75	%
Ending inventory
MaterialsPercent complete	100	%
ConversionPercent complete	40	%

Total costs to account for:
Cost of beginning work in process
Costs incurred this period
Total costs to account for:	$0
	$0
Unit reconciliation:
Units to account for:
Beginning work in process inventory - units	10,000
Units started this period	14,000
Total units to account for	24,000
Total units accounted for:
Units completed and transferred out	11,000
Ending work in process - units	8,000
Total units accounted for	19,000
Equivalent units of production (EUP)- weighted average method
	Units	% Materials	EUP- Materials	% Labor	EUP- Conversion
Units completed and transferred out	11,000	100%	11,000
Ending work in process - units	8,000	40%	3,200
Total units	19,000		14,200
Cost per equivalent unit of production			Materials		Conversion
Cost of beginning work in process
Costs incurred this period
Total costs		Costs		Costs
Equivalent units of production		EUP		EUP
Cost per equivalent unit of production (rounded to 2 decimals)			0		0
Total costs accounted for:
Cost of units transferred out:	EUP	Cost per EUP	Total cost
Direct materials
Conversion
Total costs transferred out
Costs of ending goods in process	EUP	Cost per EUP	Total cost
Direct materials		$0.00	$0
Conversion		$0.00	0
Total cost of ending goods in process
Total costs accounted for