4) Perez Mfg's August 31 inventory of raw materials is $150,000. Raw materials purchases in September are $400,000, and factory payroll cost in September is $232,000. Overhead costs incurred in September are: Indirect materials, $30,000; indirect labor, $14,000; factory rent, $20,000; factory utlities, 512,000; and factory equipment depreciation, $30,000. The predetermined overhead rate is 50% of direct labor cost. Job 114 is sold for S 380,000 cash in September Costs for the three jobs worked on in September follow ob 114 Job 115 Job 116 Balances on August 31 Direct Materials Direct Labor Applied Overhead $14,000 18,000 9,000 $18,000 16,000 8,000 Costs during September Direct Materials Direct Labor Applied Overhead 100,000 30,000 170,000 68,000 $80,000 120,000 Status on September 30 Finished (SOLD) Finished (UNSOLD a) Determine the total of each production cost incurred for September (DM, DL, and applied FOH) and the total cost assigned to each job (including the balances from August 31) b) Prepare journal entries for the month of September to record the following L Materials purchases (on credit). i. Direct materials used in production i. Direct labor paid and assigned to Work in Process Inventory . Indirect labor paid and assigned to Factory Overhead v. Overhead costs applied to Work in Process Inventory i Actual overhead costs incurred, including indirect materials (Factory rent and utilities are paid in cash) vi. Transfer of Jobs 114 and 115 to the Finished vili. Cost of Job 114 in the Cost of Goods Sold account ix. Revenue from the sale of Job 114 x. Assignment of any underapplied overap account. (The amount is not material) or overapplied overhead to the Cost of Goods Sold