Jasna Crews Design Layout References Mailings Review View Help 1 - A Aav AoE A-D A ] AaBbCcDc AaBbCcDc AaBb C AaBbcc Aab T Normal 1 No Spac... Heading 1 Heading 2 Title Find - c Replace Select Paragraph Styles w Editing Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $114,000. b. Direct materials used in production, $45,500. Indirect materials used in production, $20,400 c. Paid cash for factory payroll, $50,000. Of this total, $37,000 is for direct labor and $13,000 is for indirect labor. d. Paid cash for other actual overhead costs, $9,125. e. Applied overhead at the rate of 125% of direct labor cost. 1. Transferred cost of jobs completed to finished goods, $80,500. g. Sold jobs on account for $115,000. The jobs had a cost of $80,500. Focus m o- search O a co e A