ABC Inc. began operations on January 1. The Company had the following events during its first year of operation
a Company issued stock to owners for $100.000 cash
o Purchased matonaisSaunaros cash.
c) Transferred $4,000 of direct materials to production (Job #1: $3,000; Job #2: $1,000).
d) Paid direct labor costs, $5,000 (Job #1: $2,500; Job #2: $2,500).
oY Paid S3.000 cash for vanous actual overnead costs.
1) Allocated overhead to work in process at 60% of direst labor
9) Completed Job #1 and transferred it to Finished Goods
h Sok os #1 for $8 400 cash.
Pail $200 casn to sellino and administrative exoenses
Required:
Record the above events in the mathod of vour choice such as lournal entry form. horizontal statoment model or T-accounts, Label vour transactions (a) - ris