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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

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