Item$5$

$1\mathrm{.}25$points

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Item$5$

Lamberton Industries uses process costing. All of the company$$s manufacturing activities take place in a single processing department. The following information was available for the month of July:

Direct materials$ $114,000$Direct labor$68,400$Manufacturing overhead applied$102,600$Total costs to account for in July$ $285,000$

Partially completed units in July$$s beginning and ending work in process inventories were considered immaterial and were assigned no dollar value. During July, $57,000$ units were completed, of which $51,300$ were sold on account at $$16\mathrm{.}00$ per unit.

Required:

Prepare a journal entry to summarize the total manufacturing costs applied to production in July.

Prepare the journal entry to transfer $57,000$ completed units from work in process to the finished goods warehouse in July.

Prepare the journal entries to record the sale of $51,300$ units manufactured during the period and the related cost of goods sold.