Kaminski, Inc $\$ 105,000$ Wages Were Not Paid $\$ 106$ For Direct Materials And

Essay

Kaminski, Inc. has adopted a JIT management system and has the following transactions in December:
Dec 3 Purchased raw materials on account, \$BQ,000
Dec B Incured labor and overhead costs, $\$ 105,000$ . Wages were not paid.
Dec 15 Completed 750 units with standard costs of $\$ 106$ for direct materials and $\$ 165$ for conversion costs
Dec 23 Sold 650 units for $\$ 395$ each on account. The company uses the perpetual inventory system. Record the journal entries for Kaminski, Inc. for December. Omit explanations.