Hudson Company is a manufacturing firm that uses job-order costing, and they apply overhead to jobs using a predetermined overhead rate of $14 per machine hour. The following transactions occurred during the year. a. Purchased materials on account, $98,000. b. Direct materials used in production were $80,000 and indirect materials used were $13,000. c. The following employee costs were incurred: Direct labour Indirect labour Administrative salaries $ 48,000 9,500 15,000 d. Other manufacturing overhead costs paid in cash of $24,000. e. Manufacturing overhead was applied to production based on 3,100 machine hours used during the year. Required: 1. Prepare general journal entries to record the above events. Identify each journal entry by letter in the date column. (13 marks) 2. Prepare a journal entry to close any over or under applied overhead in the manufacturing overhead account to the cost of goods sold account. (3 marks)