During January, its first month of operations, Pharoah Company accumulated the following manufacturing costs: raw materials $4,700 on account, factory labor $7,300 of which $5,700 relates to factory wages payable and $1,600 relates to payroll taxes payable, and factory utilities payable $2,500, Prepare separate journal entries for each type of manufacturing cost. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 Raw Materials Inventory 4700 Accounts Payable 4700 (To record purchase of raw materials on account) 31 Work in Process Inventory Factory Wages Payable Employer Payroll Taxes Payable (To record factory labor costs) (lo record purchase of raw materials on account) Work in Process Inventory Factory Wages Payable Employer Payroll Taxes Payable (To record factory labor costs) Manufacturing Overhead Utilities Payable I (To record entry for utilities payable)