Exercise 19-6 Recording events in job order costing LO P1, P2, P3, P4 Prepare summary journal entries to record the following transactions for a company in its first month of operations a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000 c. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $72,600 g. Sold jobs on account for $104,000 g(2). The jobs had a cost of $72,600 g(1)