An advertising agency is estimating costs for advertising a music festival. The job will require 200 direct labor hours at a cost of $50 per hour. Overhead costs are applied at a rate of $65 per direct labor hour. What is the total estimated cost for this job? JOB COST SHEET Hours Rate Estimated Cost Materials 0.00 Total estimated cost Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $90,000. b. Direct materials used in production, $36,500. Indirect materials used in production, $19,200. c. Paid cash for factory payroll, $50,000. Of this total, $38,0000 is for direct labor and $12,000 is for indirect labor. d. Paid cash for other actual overhead costs, $11,475 Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $56,800. q. Sold jobs on account for $82,000 g(2). The jobs had a cost of $56,800 g(1). e