Cool Sun produces awnings and screens. Cool Sun uses job order costing. Prepare joumal entries to reflect the following transactions. (HINT: Calculate the manufacturing overhead costs for one month only) Aug. 4, 2020 Purchased fabric and aluminum to be used in the manufacturing process. The purchase price was $5,100, on account. Aug. 6, 2020 Transferred 70% of the rawmaterials purchased on August 4 into production for Job No. 234. (5750 is indirect material) Aug. 30, 2020 Labor costs for Job No. 234 for production workers include 160 hours at $30 per hour. Labor costs for general maintenance workers include 10 hours at $50 an hour Aug. 31, 2020 Factory overhead is applied at 120% of the direct labor cost. Aug. 31, 2020 Depreciation on the factory equipment is determined using the straight-line method. The equipment was purchased seven years ago for $50,400. It has a 20-year life and no salvage value. Aug. 31, 2020 The company purchased a one-year property insurance policy for the factory and equipment for $3,600 on January 1. The policy premium was originally debited to Prepaid Insurance. Aug. 31, 2020 Property Taxes on the factory are $3,600 for the year. Aug. 31, 2020 Factory utilities are $1,200 for the month of August. Aug. 31, 2020 Transferred Job No. 234 with total assigned costs to finished goods. Aug. 31, 2020 Sold and delivered the completed Job No. 234 to a customer for a 100% markup over cost, on account. Aug. 31, 2020 Close out the manufacturing overhead account.GENERAL JOURNAL Date Accounts Credit 4-Aug To record purchase of raw materials 6 Aug O/H To transfer raw materials to production. 30-Aug To pay and allocate factory shares 31-Aug To apply overhead at predetermined 0 31-Aug 0 Allocate depreciation 31-Aug Allocate maunance on factory property 31-Aug Allocate property taxes on factory 31-Aug Incer wolfies on factory 31-AL0 Transfer Job No 234 to Daished goods 31-Aup To record sob of finished owning 31-Aug Close out marufactoring overhead account