Answer and Explanation:
The journal entries are shown below:
1. Raw material inventory A/c Dr.$49,400
To accounts payable $49,400
(To record raw material purchased)
2. Work in process inventory A/c Dr. $33,300
Manufacturing overhead A/c Dr. $8,000
To Raw material inventory Cr. $41,300
(To record the raw material requisitioned is recorded)
3. Factory payroll A/c Dr.$65,200
To cash $65,200
(To record factory labor cost incurred)
4. . Work in process inventory A/c Dr. $54,600
Manufacturing overhead A/c Dr. $10,600
To factory payroll Cr. $65,200
(To record the direct labor and indirect labor is recorded)
5. Manufacturing overhead A/c Dr. $84,900
To accounts payable Cr. $84,900
(To record the manufacturing overhead is recorded)
7. Work in process inventory A/c Dr. $81,900 ($54,600×150%)
To Manufacturing overhead Cr. $81,900
(To record the applied manufacturing overhead is recorded)
8. Finished goods inventory A/c Dr. $96,300
To Work in process inventory Cr. $96,300
(To record the transferred goods are recorded)
9. Cost of goods sold A/c Dr. $80,700
To finished goods inventory Cr. $80,700
(To record the cost of goods sold is recorded)
