Accounting for Materials and Labor Cliffs Custom Machine Shop had the following transactions during April:

a. Purchased raw materials on account for $98,000.

b. Requisitioned $80,000 of materials into production. Of this total, $70,000 was for direct materials.

c. Actual labor cost totaled $240,000. Assume labor has not yet been paid.

d. Direct labor incurred for the period totaled $190,000 and indirect labor totaled $50,000.

Requirement

1. Prepare summary journal entries for each transaction.