Prepare the journal entries for the following petty cash transactions of Allen Coffee Shop.
Definitions:
Direct Materials Costs
Costs directly traceable to the production of a product, including raw materials and component parts.
Direct Conversion
The process of changing one form of energy, material, or resource directly into another without intermediate stages.
Variable Overhead
Costs associated with manufacturing that fluctuate with the level of output, such as raw material costs and energy expenses directly tied to production levels.
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