Ehrling Brothers Company makes jobs to customer order. During the month of July, the following occurred: Materials were purchased on account for $45,670. Materials totaling $40,990 were requisitioned...

Ehrling Brothers Company makes jobs to customer order. During the month of July, the following occurred:

1. 
   

   Materials were purchased on account for $45,670.

   
   


2. 
   

   Materials totaling $40,990 were requisitioned for use in producing various jobs.

   
   


3. 
   

   Direct labor payroll for the month was $22,400 with an average wage of $14 per hour.

   
   


4. 
   

   Actual overhead of $9,020 was incurred and paid in cash.

   
   


5. 
   

   Manufacturing overhead is charged to production at the rate of $5.50 per direct labor hour.

   
   


6. 
   

   Completed jobs costing $58,000 were transferred to Finished Goods.

   
   


7. 
   

   Jobs costing $59,000 were sold on account for $73,750.

   
   

Beginning balances as of July 1 were:

Instructions:

1) Prepare the journal entries for the preceding events

2) Calculate the ending balances of: a) Materials Inventory - B) Work-in-Process Inventory - C) Overhead Control - D) Finished Goods Inventory