5 $ 20.000 15.000 55.000 $ . $ $ $ 55,000 73.000 60,000 25.000 During May, Sharon Corporation recorded the following Raw materiallace Work in process in Malance Finished Good, cine balance Tractions Raw materials purchase account b Raw materials used in production (direet60.000, Indirect 13,000) 1 Direct labor cod 2 d Indirect labor cost used Other manufacturing overhead costs incurred (le, utility, tax, etc) 1 Manufacturing overhead applied Cost of units completed and transferred from Work in Processo s 8 Finished Goods Any overapplied or underapplied manufacturing overhead is closed to 26 Cost of Goods Sold 37 Finished goods are sold (Revenue is $650,000 in Cash) 1 Prepare the journaleries to record the following transactions 20 () 21 22 S 75,000 5 109.000 5 253,000 $ 300.000 24 26 29 30 31 22 33 34 03 2. Prepare T-Accounts for Work in Process and Manufacturing overhead, showing the rading balances WIP 4 44 A6 17 My On 50 50 2 54 55 De theme of overapplied dersliedereedCh) 57 58 59 63 4 used above, prepare the only manufacturing overhale end of the