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Boston, Inc. had the following activities during its most recent period of operations: (a)Purchased $140,000...

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Accounting

Boston, Inc. had the following activities during its most recent period of operations:

(a)Purchased $140,000 of raw materials on credit.

(b)Issued $120,000 of raw materials into production (80% direct; 20% indirect).

(c)Incurred and paid factory labor costs of $200,000 cash (75% direct; 25% indirect).

(d)Incurred and paid factory utilities costs of $15,000.

(e)Recorded factory building depreciation of $28,000.

(f)Applied factory overhead at 80% of direct labor costs.

(g)Finished and transferred jobs totaling $280,000.

(h)Sold jobs that had a total cost of $190,000.

Required:Prepare journal entries to record the above transactions.(20 points possible)

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