Cactus Company developed the following standards for 2018: CACTUS COMPANY Standard Cost Card X = Standard Cost $25 Cost Elements Direct materials Direct labour Manufacturing overhead Standard Quantity 5 kilograms 1 hour 1 hour Standard Price $ 5 $18 $10 18 10 $53 The company planned to produce 30,000 units of product and work at the 30,000 direct labour level of activity in 2018. The company uses a standard cost accounting system which records standard costs in the accounts and recognizes variances in the accounts at the earliest opportunity. During 2018, 29,000 actual units of product were produced. Required: Prepare the journal entries to record the following transactions for Cactus Company during 2018. (a) Purchased 147,000 kilograms of raw materials for $4.90 per kilogram on account. (b) Actual direct labour payroll amounted to $527,000 for 28,500 actual direct labour hours worked. Factory labour cost is to be recorded and distributed to production. (c) Direct materials issued for production amounted to 147,000 kilograms which actually cost $4.90 per kilogram. (d) Actual manufacturing overhead costs incurred were $288,000 in 2018. (e) Manufacturing overhead was applied when the 29,000 units were completed. (f) Transferred the 29,000 completed units to finished goods