Question: please help me understand how to solve the practice journal entry. ASSUMPTIONS: INK PAPER+B5 DIRECT LABOR RATE DIRECT LABOR PRODUCTION ESTIMATED MOH ESTIMATED QUANTITY SELLING

 please help me understand how to solve the practice journal entry.
please help me understand how to solve the practice journal entry.

ASSUMPTIONS: INK PAPER+B5 DIRECT LABOR RATE DIRECT LABOR PRODUCTION ESTIMATED MOH ESTIMATED QUANTITY SELLING PRICE MULTIPLE 2@5 2@5 $50 PER HOUR 25 BOOKS PER HOUR $500,000 10,000 4 ESTIMATED UNIT COST ESTIMATED SELLING PRICE POR BEGINNING INVENTORY INVENTORY METHOD JOURNAL ENTRIES: PURCHASE OF INK CARTRIDGES PUTCHASE OF REAMS OF PAPER TRANSFER OF INK TO WIP TRASFER OF PAPER TO WIP PAYMENT FOR ACTUAL LABOR HOURS RECORD ESTIMATED MOH RECORD TRANSFER OF COMPLETED BOOKS SALE OF FINISHED GOODS ACTUAL MOH DEPRECIATION OTHER OVERHEAD RECORD OVER/UNDER APPLIED OVERHEAD SALES SALARIES AS A PERCENT OF SALES RENTAL EXPENSE 25,000@5 22,000@5 20,000 20,000 500 HOURS 500 HOURS 7500 BOOKS 6000 BOOKS 100,000 405,000 10% $500,000 REQUIRED: POST BEGINNING INV TO LEDGER COMPLETE JOURNAL ENTRIES POST OT LEDGER PREPARE COGM STATEMENT PREPARE COGS PREPARE INCCOME STATEMENT

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