Assignment Instructions: Cool Sun produces awnings and screens. Cool Sun uses job order costing. Prepare journal entries to reflect the transactions. Memo entries are already included. (HINT: Calculate the manufacturing overhead costs for one month only). The transactions can be found on the "problem" worksheet. On the "worksheet" tab, prepare the journal entries for the Month of August only. Submission Instructions: You will make the changes to the file that you have downloaded to your device. When you have completed the project, please re-name your file "FirstNameLastName-Mid_Week4_Project" and upload to the appropriate area in Blackboard (for example: SusanSmith-Mid_Week4_Project ). Submit your completed document using the file attach tool in the assignment area. Due Date: Wednesday of Week 4 by 11:59 pm Points: 20 Points; Each input (accounts name and amount) are worth 0.75 points Aug. 4, 2022 Aug. 6, 2022 Aug. 30, 2022 Aug. 31, 2022 Aug. 31, 2022 Aug. 31, 2022 Purchased fabric and aluminum to be used in the manufacturing process. The purchase price was $10,700 and was paid with cash. Transferred 60% of the raw materials purchased on August 4 into production for Job No. 234. (Of the total transferred, $825 is indirect material). Labor costs for Job No. 234 for production workers include 185 hours at $42 per hour. Labor costs for general maintenance workers include 12 hours at $70 an hour. Factory overhead is applied at 80% of the direct labor cost. Depreciation on the factory equipment is determined using the straight- line method. The equipment was purchased nine years ago for $360,000. It has a 15-year life and no salvage value. The company purchased a one-year property insurance policy for the factory and equipment for $2,400 on January 1. The policy premium was originally debited to Prepaid Insurance. Property Taxes on the factory are $4,800 for the year. Aug. 31, 2022 Aug. 31, 2022 Factory utilities are $975 for the month of August. Aug. 31, 2022 Transferred Job No. 234 with total assigned costs to finished goods. Aug. 31, 2022 Sold and delivered the completed Job No. 234 to a customer for a 75% markup over cost, on account. Aug. 31, 2022 Close out the manufacturing overhead account.