The selected data that follow relate to the C&R Ice Company.
Direct material purchased on account $150,000
Direct material used 69,000
Direct Labor 160,000
Manufacturing overhead incurred 90,000
Manufacturing overhead applied 80,000
During the year, products costing $300,000 were completed, and products costing $306,000 were sold on account for $445,000.
Required:
Prepare journal entries to record the preceding transactions and events.
