14-B1 Job-Order Costing, Basic Journal Entries Consider the following data for Birmingham Printing Company in thousanda) Inventories, December 31, 2011 Direct materials Work in proces Finished goods 12 20 110 Summarised transactions for 2012 are as follows 74 52 200) Purchases of direct materials h. Direct materials used Direct laber Pactory overhead incurred Factory overhead applied, 80% of direct labor cost Cost of goods completed and transferred to finished pood # Cost of goods sold h. Saleset CHAPTER 14 582 742 603 CHAPTER 14 JOB ORDER COSTING AND PROCESS COSTING SYSTEMS 1. Prepare animary journal entries for 2012 transaction mit explanation 2. Show the T-accounts for all inventories, Cost of Goods Sold, and Factory Department Overhead Control Compute the ending balances of the inventories. Do not adjust for underapplied or over applied factory overhead