Exercise 20-25 Recording cost flows in a process cost system LO P1, P2, P3, P4 The company's revenue for the month totaled $440,000 from credit sales, and its cost of goods sold for the month is $244,000. Prepare summary journal entries dated October 31 to record its October production activities for (1) direct materials usage. (2) direct labor incurred (3) overhead allocation, (4) goods transfer from production to finished goods, and (5) credit sales. ournal entry worksheet ral J Oct 31 Journal entry worksheet Record overhead applied to production. Oct 31 Clear entry The company's revenue for the monunotdkHQLOE Prepare summary journal entries dated October 31 to record its October production activities for () eBooklabor incurred (3) overhead allocation. (4) goods transfer from production to finished goods, and (5) Journal entry worksheet 3 5 6 References Record the transfer of goods from production to finished goods. Oct 31 The company's revenue|e Prepare summary journal entries dated October 31 to record its October production activities for () direct eBookabor incurred (3) overhead allocation. (4) goods transfer from production to finished goods, and (5) credit Journal entry worksheet 2 Record the sale of goods on account. General Journal Oct 31 Clear entry re summary journal entries dated October si to reDPG IS OLIUD D OWOCIUnu eBook labor incurred (3) overhead allocation. (4) goods transfer from production to finished goods, and (5) credr View transaction list Journal entry worksheet Print 2 References Record the cost of goods sold. ral Journal Credit Oct 31 Clear entry