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Exercise 8 - (This is a great preparation for the exam! Scroll to the top for beginning WIP data.) On August 1st, Custom Car Co's work in process inventory was $12450, its raw materials inventory was $3000, manufacturing overhead had a $900 debit balance. Job Mercedes Corvette Murcielago Work in Process Subsidiary Data 8/1. Direct Materials Direct Labor $2,400 $600 $1,800 $1,500 $1,500 $900 $5,700 $3,000 Man Overhead $750 $1,875 $1,125 $3,750 A. Journalize the following transactions: 8/5 Raw materials of $5400 are purchased on account from Wholesaler Co. 8/8 $1200 is paid to repair factory equipment (ck#522) 8/11 Factory rent of $1800 is paid (ck #523). 8/15 Depreciation on factory equipment totals $2400 for the month. 8/30 Property taxes for the factory total $600. They're due next month. Account Dr. Cr. Date 5-Aug X X (Purchase RM-Wholesaler) 8-Aug X X X X (Repairs - Ck #522) 11-Aug X X X X (Rent-Ck #523) 15-Aug X X X X (Depreciation factory equip) B 4 4 5 6 7 30-Aug X X X X (Property taxes) 9