How do I prepare a journal entry for
The following account appears in the ledger after only part of the postings have been completed for July, the first month of the current fiscal year:

Work in Process

Balance, July 1
60,200

Direct materials
147,000

Direct labor
120,000




Factory overhead is applied to jobs at the rate of 60% of direct labor cost. The actual factory overhead incurred for July was $75,000. Jobs completed during the month totaled $301,200

You have all the information you need.

The accounts you need which you don't have are Materials inventory, Payroll, Factory Overhead and Overhead Recovered so you debit Work in Progress for each of the inputs and credit the account the input came from, You also credit work in Progress for the value of output and debit Finished Goods Inventory or Cost of Sales depending upon your approach