A manufacturer reports the following information. The company applies overhead using a predetermined overhead rate of 55% of direct labor cost. Prepare journal entries for the following transactions for the period. 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. 4. Direct labor used (recorded as factory wages payable). 5. Indirect labor used (recorded as factory wages payable). 6. Incurred other actual overhead costs (all paid in cash). 7. Applied overhead to work in process. A manufacturer reports the following information. The company applies overhead using a predetermined overhead rate of 55% of direct labor cost. Prepare journal entries for the following transactions for the period. 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. 4. Direct labor used (recorded as factory wages payable). 5. Indirect labor used (recorded as factory wages payable). 6. Incurred other actual overhead costs (all paid in cash). 7. Applied overhead to work in process