Inventories Beginning of period End of Period Raw materials $ 28,000 $ 56,000 Work in process 9,400 20,200 Finished goods 55,000 33,800 Cost incurred for the period Raw materials purchases $ 196,000 Factory payroll 300,000 Factory overhead (actual) Indirect materials used 11,000 Indirect labor used 69,000 Other overhead costs 109,000 Exercise 19-14 (Algo) Recording direct and indirect labor LO P2, P3 Direct labor used (recorded as factory wages payable). Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period