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Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $80,000. b. Direct materials used, $37,000. Indirect materials used, $12,000. c. Direct labor used, $25,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $50,470. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. 4

Journal entry worksheet 1. 2 Note: Enter debits before credits. T. I ransterrea cost or jods compietea to rinisnea gooas, $5U,4/U. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. Journal entry worksheet Journal entry worksheet Record the entry for direct labor used. Note: Enter debits before credits. T. Iransterrea cost or joos compietea to rinisnea gooas, $,4/U. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. Journal entry worksheet Journal entry worksheet (1) 2 9 Record the entry to apply overhead at a rate of 120% of direct labor cost. Note: Enter debits before credits. T. Iransierrea cost or jods compietea to rinsnea gooas, $U,4/U. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. Journal entry worksheet r. I ransterrea cost or joDs compietea to rnisnea gooas, $,4/U. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. Journal entry worksheet (2) 7 8 Note: Enter depits berore creais. Journal entry worksheet Record the entry for indirect materials. Note: Enter debits before credits. Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $80,000. b. Direct materials used, $37,000. Indirect materials used, $12,000. c. Direct labor used, $25,000. Indirect labor used, $10,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,000. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $50,470. g. Sales of jobs on credit was $72,100. h. Cost of jobs sold was $50,470. Journal entry worksheet 6 Record the entry to assign costs of direct materials used. Note: Enter debits before credits

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