Exercise 19-13 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary journal entries lo record the following transactions and events a through g for a company in its first month of operations Raw materials purchased on account. dollar 86,000 Direct materials used in production. dollar 38,500 indirect materials used in production dollar 23,000. Paid cash for factory payroll. dollar 50,000 Of this total. dollar 38,000 is tor direct labor and dollar 12,000 is for indirect Part cash tor other actual overhead costs. dollar 7,375. Applied overhead at the rate of 125% of direct labor cost Transferred cost of jobs completed to finished goods. dollar 62,600 Sold jobs on account for dollar 90,000 The jobs had a cost of dollar62,600