14-A) job-Order Costing, Basic Journal Entries The following data (in thousands) summarize the factory operations of the Smothers Manufacturing Company for the year 20X1, its first year in business: a. Direct materials purchased for cash $360 b. Direct materials issued and used 325 c. Labor used directly on production 130 dl. Indirect labor 90 d2. Depreciation of plant and equipment 50 d3. Miscellaneous factory overhead (ordinarily would be detailed) 40 e. Overhead applied: 180% of direct labor f. Cost of production completed 625 g. Cost of goods sold 425 1. Prepare summary journal entries. Omit explanations. For purposes of this problem, combine the items in part d as ''overhead incurred.'' 2. Show the T-accounts for all inventories, Cost of Goods Sold, and Factory Department Overhead Control. Compute the ending balances of the inventories. Do not adjust for underapplied or over-applied factory overhead