II. Problems Answer all parts of all questions. Show calculations where appropriate. I. PRO, Inca had the following activities during its most recent period of record the following transactions (25 pointss a Purchased raw materials on account for $1,40,.000 fboth direat and indirect materials are reconled int Raw Materials Inventory account) Date Account Debit Credit b. Issued raw materials to prodaction of $130,000 (8104,000 direct and $26,000 indirecto. Date Account Debit Credit Paid factory payroll of $250,000 eash ($175,000 direct and $75,000 indirect) Date Account Debit Credit d. Paid actual factory utilities costs of $20,000 in cash. (Hint: this is an actual FOH cost) Date Account Debit Credit e, Applied manufacturing overhead at 80% of direct labor costs." Date Account Debit Credit f. Sold inventory for $200,000, the inventory had a cost of $120.000 to manufacture. (Hint: remember the sale of inventory requires twe journal entries.) Date Account Debit Credit