Hudson Company is a manufacturing firm that uses job-order costing, and they apply overhead to jobs on the basis of 150% of direct labour cost 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. Payroll costs were incurred and paid factory wages of $25,600 and the production manager salary of $3,000 d Other manufacturing overhead costs were paid in cash of $24,000 e Office rent was paid in cash of $2,000. f Manufacturing overhead was applied to production Required: 1. Prepare general journal entries to record the above events. Identify each journal entry by letter in the date column. (14 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) N