Jordan Company Inventories (as of May 31) Inventory Beginning Inventory ($) Ending Inventory ($) Raw materials 57.600 88,000 Goods in process 124,800 200,000 Finished goods 128,000 158,400 Production activities for May (In $) Raw materials (credit purchases) 160,000 Company payroll cost (cash) 320,000 Miscellaneous overhead cost (other accounts credited) 136,400 Materials Direct 96,000 Indirect 33.600 Labor Direct 280,000 Indirect 40,000 Overhead rate as a percent of direct labor 75% Sales on credit 800.000Record production activities for May 31 in the Summary Journal Entries table below. Summary Journal Entries A. May 31 Raw Materials Inventory 160,000 Accounts Payable 160,000 B. May 31 Goods in Process Inventory Raw Materials Inventory C. May 31 Factory Overhead D. May 31 Factory Payroll 320,000 Cash 320,000 E. May 31 Goods in Process Inventory F. May 31 Factory Overhead G. May 31 Factory Overhead H. May 31 Goods in Process Inventory May 31 Finished Goods Inventory J. May 31 Accounts Receivable 800,000 Revenue Sales 80D,000 May 31 Finished Goods Inventory