Exercise 19-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August. Raw materials purchased on account $87,000 Direct materials used in production $53,80 Factory wages earned (direct labor) $21,650 Overhead rate 135% of direct labor cost 39 Prepare journal entries to record the following events. 1. Raw materials purchased. 2. Direct materials used in production. 3. Direct labor used in production 4. Applied overhead View transaction list Journal entry worksheet