Question: Selected information from Skybox Studios shows the following: Raw Material Purchased $5,000 Direct Materials $1,500 Direct Labor $11,000 Factory Depreciation $2,000 Total Manufacturing Overhead Incurred

Selected information from Skybox Studios shows the following:

Raw Material Purchased $5,000

Direct Materials $1,500

Direct Labor $11,000

Factory Depreciation $2,000

Total Manufacturing Overhead Incurred $15,000

Machine Hours Per Month 28,000

Unit Cost for Materials $2

Unit Cost of Conversation $8

Number units transferred 15,000

Prepare journal entries to record the following:

a. Raw material purchased

b. Direct labor incurred

c.Depreciation expense (hint: this is part of manufacturing overhead)

d. Raw materials used

e. Overhead applied on the basis of $0.50 per machine hour

f.The transfer from department 1 to department 2

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