2 800 points E22 Preparing Journal Entries LO 2S1 with the f

2 800 points E2-2 Preparing Journal Entries [LO 2-S1) with the following costs Requisitions Tickets Job 33 $ 2,700 4,200 700 Completed, but not sold 00 In process The company applies overhead to products af a rate of 65 percent of direct labor cost Prepare joumal entres to recond the materia\'s requishons labor costs and applied overhead (Iif no entry is required for a transaction event, select \"No Journal Entry Required\" in the first account ield. 6 2

Solution

Journal Entries No. Transaction                      General Journal                              Debit Credit 1 a. Work in process inventory 10700 Manufacturing overhead 900 Raw materials inventory 11,600 2 b. Work in process inventory 11000 Manufacturing overhead 1,800 Factory wages payable 12,800 3 c Work in process inventory 7150 Manufacturing overhead 7,150 (11000*65%)