Exercise 2-4 Recording product costs LO P1, P2, P3 Starr Company reports the following information for August $87,000 $52,200 Raw materials purchased on account Direct materials used in production Factory wages earned (direct labor) $19,400 135% of direct labor cost Overhead rate 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 Journal entry worksheet 2 3 1 4 Record raw materials purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the entry to assign direct materials to jobs. Note: Enter debits before credits Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet 3 4 1 Record the application of overhead to work in process. Note: Enter debits before credits. General Journal Transaction Debit Credit 4 View general journal Clear entry Record entry