Exercise 19-13 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary journal entries to record the following transactions and events a through g for a company in its first month of operations. Raw materials purchased on account, dollar 108,000. Direct materials used in production, dollar 44,000. Indirect materials used in production, dollar 19,800. Paid cash for factory payroll, dollar 70,000. Of this total, dollar 46,000 is for direct labor and dollar 24,000 is for indirect labor. Paid cash for other actual overhead costs, dollar 8,750. Applied overhead at the rate of 120 percentage of direct labor cost. Transferred cost of jobs completed to finished goods, dollar 86,000. Sold jobs on account for dollar 123,000. The jobs had a cost of dollar 86,000