Given the Following Information for Graves Corporation, Prepare the Necessary $\quad$

Essay

Given the following information for Graves Corporation, prepare the necessary journal entries, assuming that the Raw Material Inventory account contains both direct and indirect material.
a. $\quad$ Purchased raw material on account $\$ 28,500$ .
b. $\quad$ Put material into production: $\$ 15,000$ of direct material and $\$ 3,000$ of indirect material.
c. $\quad$ Accrued payroll of $\$ 90,000$ , of which 70 percent was direct and the remainder was indirect.
d. $\quad$ Incurred and paid other overhead items of $\$ 36,000$ .
e. $\quad$ Transferred items costing $\$ 86,500$ to finished goods.
f. $\quad$ Sold goods costing $\$ 71,300$ on account for $\$ 124,700$ .