A firm produces its products by a continuous process involving three production departments, 1 through 3 . Present entries to record the following selected transactions related to production during August: a. Materials purchased on account, $120,000. b. Material requisitioned for use in Department 1,$125,700, of which $124,200 entered directly into the product. If an amount box does not require an entry, leave it blank. c. Labor cost incurred in Department 1,$195,400, of which $174,000 was used directly in the manufacture of the product. If an amount box does not require an entry, leave it blank. d. Factory overhead costs for Department 1 incurred on account, $54,700. A firm produces its products by a continuous process involving three production departments, 1 through 3 . Present entries to record the following selected transactions related to production during August: a. Materials purchased on account, $120,000. b. Material requisitioned for use in Department 1,$125,700, of which $124,200 entered directly into the product. If an amount box does not require an entry, leave it blank. c. Labor cost incurred in Department 1,$195,400, of which $174,000 was used directly in the manufacture of the product. If an amount box does not require an entry, leave it blank. d. Factory overhead costs for Department 1 incurred on account, $54,700