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Lamberton Industries uses process costing. All of the company's manufacturing activities take place in a single processing department. The following information was available for the month of July. Direct materials Direct labor Manufacturing overhead applied Total costs to account for in July $ 75,000 28,000 42,000 $ 145,000 Partially completed units in July's beginning and ending work in process inventories were considered immaterial and were assigned no dollar value. During July, 40,000 units were completed, of which 35,000 were sold on account at $12 per unit. a. Prepare a journal entry to summarize the total manufacturing costs applied to production in July. b. Prepare the journal entry to transfer 40,000 completed units from work in process to the finished goods warehouse in July. c. Prepare the journal entries to record the sale of 35,000 units manufactured during the period and the related cost of goods sold. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare the journal entries to record the sale of 35,000 units manufactured during the period and the related cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate calculations to 2 decimal places.) No Transaction General Journal Debit Credit 1 1 Accounts receivable 420,000 Sales 420,000 2 2 126,875 X Cost of goods sold Finished goods inventory olol 126,875 X >

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