Exercise 15-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary joumal entries to record the following transactions for a company in its first month of operations a. Raw materials purchased on account, $116 000 b. Direct materials used in production, $16.000. Indirect materials used in production, $20,600 c. Paid cash for factory payroll $55,000. Of this total $41,000 is for direct labor and $14 000 is for indirect labor d. Paid cash for other actual overhead costs, $9,250 e. Applied overhead at the rate of 120% of direct labor cost. 1. Transferred cost of jobs completed to finished goods. $85 600 9. Sold jobs on account for $123,000 9(2). The jobs had a cost of $85,600 911). View transaction list Journal entry worksheet 2 3 4 5 6 7 8 9 Record raw materials purchased on account Note Enter debits before credits Debit Credit wet and Windows