A manufacturer reports the following for the month. $ 84,200 Raw materials purchased on credit Direct materials used $ 48,800 $ 20,600 Direct labor used Overhead rate Cost of goods manufactured Cost of goods sold Prepare journal entries to record the following. 1. Raw materials purchased. 2. Direct materials used. 3. Direct labor used. 4. Applied overhead. 5. Cost of goods manufactured. 6. Cost of goods sold. 140% of direct materials cost $ 90,000 $ 85,000