Exercise 3-1 (Algo) Prepare Journal Entries [LO3-1) Lamed Corporation recorded the following transactions for the just completed month. a $81000 in raw materials were purchased on account b. $79,000 in raw materials were used in production. Of this amount, $64,000 was for direct materials and the remainder was for Indirect materials. c Total labor wages of S124.000 were paid in cash. Of this amount $103,600 was for direct labor and the remainder was for indirect labor d Depreciation of $199,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)