Bramble Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,000 units of Product B was received. The standard cost of one unit of Product B is as follows. Direct materials 3 pounds at $1.30 per pound $3.90 Direct labor 8.80 1.10 hour at $8.00 per hour 2 hours (variable $4.00 per machine hour;fixed $3.30 per machine hour) Overhead 14.60 Standard cost per unit $27.30 Normal capacity for the month was 4,010 machine hours. During January, the following transactions applicable to Job No. 12 occurred. 1. Purchased 3,100 pounds of raw materials on account at $1.36 per pound. 2. Requisitioned 3,100 pounds of raw materials for Job No. 12. 3. Incurred 1,180 hours of direct labor at a rate of $7.95 per hour. 4. Worked 1,180 hours of direct labor on Job No. 12. 5. Incurred manufacturing overhead on account $15,880. 6. Applied overhead to Job No. 12 on basis of standard machine hours allowed. Completed Job No. 12. 7. 8. Billed customer for Job No. 12 at a selling price of $90,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Raw Materials Inventory 4030 Materials Price Variance 186 Accounts Payable 4216 2. Work in Process Inventory 3900 Materials Quantity Variance 130 Raw Materials Inventory 4030 3. Factory Labor 9440 Labor Price Variance 59 Factory Wages Payable 9381 4. Work in Process Inventory 8800 Labor Quantity Variance 640 Factory Labor 9440 5. Manufacturing Overhead 15880 Accounts Payable 15880 6. Work in Process Inventory 14600 Il cognoosobo Manufacturing Overhead 14600 7. Finished Goods Inventory 27300 Work in Process Inventory 27300 8. Accounts Receivable 90000 Sales Revenue 90000 od 0 (To record sales.) Cost of Goods Sold 27300 Finished Goods Inventory 27300 (To record cost of goods sold.) e Textbook and Media Solution Post to the job order cost accounts. (Post entries in the order of journal entries presented in the previous part.) Raw Materials Inventory Factory Labor Manufacturing Overhead Materials Price Variance Materials Quantity Variance Labor Price Variance Labor Quantity Variance Work in Process Inventory Finished Goods Inventory Cost of Goods Sold