Question 3 - Ch. 2 Homework - C X + X > C @ https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-g... @ Ch. 2 Homework i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 3 Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $226,440 and total machine hours at 62,900. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor 714 cost, and machine hours for each job: points Job 101 Job 102 Job 103 Total Direct materials used $ 11, 200 $ 8,000 $ 5,30 $ 24,500 Direct labor $ 16, 800 $ 6, 10 $ 4,300 $ 27, 200 Machine hours 1, 300 hours 2, 200 hours 1, 300 hours 4,800 hours Job 101 was completed and sold for $51,600. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead costs recorded during the first month of operations totaled $12,580. Required: 1. Prepare a journal entry showing the transfer of Job 102 into Finished Goods Inventory upon its completion. 2. Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job 101. 3. Prepare the journal entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations. x Answer is not complete. No Transaction General Journal Debit Credit A 01 Finished Goods Inventory 22,020 Work in Process Inventory 22,020 B 02.a Work in Process Inventory x 51,600 x Salary and Wages Payable x 51,600 X C 02.b Cost of Goods Sold 32,680 x Finished Goods Inventory X 32,680 x Mc Grav