Roofing Manufacturers had a beginning
work-in-progress of $500,000. The company used $300,000 in direct
materials and $500,000 in labor and applied factory overhead at
200% of direct materials. At the end of the month, the company had
an ending work-in-progress of $750,000. Record necessary journal
entries to record the (1) direct materials used, (2) direct labor
used, (3) applied overhead and (4) the transfer of completed
work-in-progress from molding department to finishing department.
(20 Points)