Question: Need help with accounting question. Please show your work to help me understand. Thank you. dirext labor hours would be warked. At year-end, Anthody, the
dirext labor hours would be warked. At year-end, Anthody, the eompamy/s foumder and CIO, gives you the following information rezarding Obertis operations: 1. The beginning balances in the inventery accounts were: 2. During the year, the compamy parchased raw materials costang $97,000. 3. The productson departmeal requisisionel stoo,000 of raw malerials for use in production. Of those, 70 k were dired materials and goke wre indirect maseriala. 4. The company eced 2L,000 direct labor hours at a cost of $14 jer heser during the year (credit wages Rayalhe). 5. The company wsed 6 goo indirect labor hours at a cost of $10 per hour (credit Wages Payable). 6. The compeny pas s3zb.ooe for insuranee, utilities, and property taves en the factery. 7. The company recorded factory depreciation of $40,000 B. The cospany apodied manufataring everbed to iscotory based on the a1,oog labor hours actually workre duriag the year. 9. Producis costing $665.000 wvre cempleted iharing the year and transferred to the Finisthed Coods fovrateoy, 10. During the year, the company and products costing a tetal of s6gd,ooo. 11. The company closes under and overapplied overthead to Cost of Cioods Sol.. Mequired a. Prejare journal entries for nach of the trassactions just listedt. Goocls Sold. Sthon the ending balanees for all aceousts
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