Required information knowledge check 01 dream house builders, inc. applies overhead by linking it to direct labor. at the start of the current period, management predicts total direct labor costs of $100,000 and total overhead costs of $20,000. on january 31, the direct labor for this job equals $2,700. complete the following journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. view transaction list journal entry worksheet 1 dream house bullders, inc. apples overhead by linking it to direct labor. at the start of the current perlod, management predicts total direct labor costs of $100,000 and total overhead costs of $20,000. on january 31, the direct labor for this job equals $2,700. nate: enter debits before credits date general journal debit credit accounts payable jan 31 record antry claar antry viaw gonaral journal

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.