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Ivanhoe Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber. depending on customer preference On June 1. 2022, the general ledger for Ivanhoe Inc. contains the following data. Raw Materials Inventory $ 4.600 Manufacturing Overhead Applied $ 35,000 Work in Process Inventory $ 5,425 Manufacturing Overhead Incurred $ 29,800 Subsidiary date for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $ 700 $ 900 $ 900 Direct labor 300 500 500 Manufacturing overhead 375 525 525 $ 1,375 $ 2,025 $ 2,025 During June, raw materials purchased on account were $ 5,000, and $ 5,100 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $ 900 and miscellaneous costs of $ 500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $ 700 $ 800 Koss 1,900 900 Stevens 600 400 Linton 1,400 1,400 Rodgers 400 500 5,000 4,000 General use 1,500 1,100 $ 6.500 $ 5.100 Overhead was assigned to jobs at the same rate of $ 1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $ 20.200. Each customer paid in full at the time of saleJournalize the June transactions: [1) purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1 Raw Materials Inventory 5.000.00 Accounts Payable (To record purchase of raw materials) Factory Labor 5.100.00 (To record factory labor costs paid} Manufacturing Overhead Accumulated Depreciation-Equipment 900.00 Accounts Payable 300.00 (To record manufacturing overhead costs incurred) 2 Work In Process Inventory Manufacturing Overhead 1.500.00 Raw Materials Inventory 5.500.00 [To record assignment of direct materials) Work In Process Inventory Manufacturing Overhead Factory Labor 5.100.00 [To record assignment of factory labor} Work In Process Inventory Manufacturing Overhead 5.000.00 [To record assignment of manufacturing overhead) Finished Goods Inventory Work In Process Inventory 15 500.00 To record completion of jobs] Sales Revenue 20 200.00 (To record sale of goods] Cost of Goods Sold 15.500.00 Finished Goods Inventory 15 500.00Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 5/1 Balance 5,425.00 June Completed Work 15,500.00 Direct Materials 5,000.00 Direct Labor 4,000.00 Overhead Applied 5,000.00 6/30 Balance 3,925.00 eTextbook and Media List of Accounts Attempts: 2 of 5 used (c) V Your answer is correct. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. t Labor $ 900 + Manufacturing Overhead $ 1125 $ 3925(d) Prepare a cost of goods manufactured schedule for June. IVANHOE INC. Cost of Goods Manufactured Schedule