The following data summarize the operations during the year A Purchase of raw materials on account $3,000 B Raw materials used by Job 1 $500 C Raw materials used as indirect materials $50 D Direct labor for Job 1 $300 E Indirect labor incurred $50 F Factory utilities incurred on account $700 G Adjusting entry for factory depreciation $250 H Manufacturing overhead applied as of direct labor 250 I Job 1 is transferred to finished goods J Job 1 is sold $2,900 K Manufacturing overhead is overapplied $120 Prepare a journal entry for each transaction If an amount box does not require an entry, leave it blank A Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select B Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select C Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select D Accounts PayableFactory Wages PayableProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableFactory Wages PayableProperty Taxes PayableRaw Materials InventoryWork in Process Inventory Select Select E Accounts PayableFactory Labor PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableFactory Labor PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select F Accounts PayableFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select Accounts PayableFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select G Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select H Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select I Accumulated DepreciationFinished Goods InventoryManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select Accumulated DepreciationFinished Goods InventoryManufacturing OverheadRaw Materials InventoryWork in Process Inventory Select Select J Accumulated DepreciationCost of Goods SoldFinished Goods InventoryRaw Materials InventoryWork in Process Inventory Select Select Accumulated DepreciationCost of Goods SoldFinished Goods InventoryRaw Materials InventoryWork in Process Inventory Select Select Accounts ReceivableAccumulated DepreciationRaw Materials InventorySalesWork in Process Inventory Select Select Accounts ReceivableAccumulated DepreciationRaw Materials InventorySalesWork in Process Inventory Select Select K Accumulated DepreciationCost of Goods SoldFinished Goods InventoryManufacturing OverheadWork in Process Inventory Select Select Accumulated DepreciationCost of Goods SoldFinished Goods InventoryManufacturing OverheadWork in Process Inventory Select Select

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Question: The following data summarize the operations during the year. A. Purchase of raw materials on account. $3,000 B. Raw materials used by Job 1. $500

The following data summarize the operations during the year.

A. Purchase of raw materials on account.	$3,000
B. Raw materials used by Job 1.	$500
C. Raw materials used as indirect materials.	$50
D. Direct labor for Job 1.	$300
E. Indirect labor incurred.	$50
F. Factory utilities incurred on account.	$700
G. Adjusting entry for factory depreciation.	$250
H. Manufacturing overhead applied as % of direct labor.	250%
I. Job 1 is transferred to finished goods.
J. Job 1 is sold.	$2,900
K. Manufacturing overhead is overapplied.	$120

Prepare a journal entry for each transaction. If an amount box does not require an entry, leave it blank.

A.	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
B.	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
C.	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableManufacturing OverheadProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
D.	Accounts PayableFactory Wages PayableProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableFactory Wages PayableProperty Taxes PayableRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
E.	Accounts PayableFactory Labor PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableFactory Labor PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
F.	Accounts PayableFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts PayableFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
G.	Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
H.	Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accumulated DepreciationFactory Wages PayableManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
I.	Accumulated DepreciationFinished Goods InventoryManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accumulated DepreciationFinished Goods InventoryManufacturing OverheadRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
J.	Accumulated DepreciationCost of Goods SoldFinished Goods InventoryRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accumulated DepreciationCost of Goods SoldFinished Goods InventoryRaw Materials InventoryWork in Process Inventory	- Select -	- Select -
	Accounts ReceivableAccumulated DepreciationRaw Materials InventorySalesWork in Process Inventory	- Select -	- Select -
	Accounts ReceivableAccumulated DepreciationRaw Materials InventorySalesWork in Process Inventory	- Select -	- Select -
K.	Accumulated DepreciationCost of Goods SoldFinished Goods InventoryManufacturing OverheadWork in Process Inventory	- Select -	- Select -
	Accumulated DepreciationCost of Goods SoldFinished Goods InventoryManufacturing OverheadWork in Process Inventory	- Select -	- Select -

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