Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $31,030. b. Materials requisitioned and factory labor used: c. Factory overhead costs incurred on account, $5,290. d. Depreciation of machinery and equipment, $1,960. e. The factory overhead rate is $52 per machine hour. Machine hours used: f. Jobs completed: 301, 302, 303 and 305. g. Jobs were shipped and customers were billed as follows: Job 301, \$8,430; Job 302, \$10,960; Job 303, \$15,550. Required: 1. Journalize the entries to record the summarized operations. Record each item (items a-f) as an individual entry on March 31 . Record item g as 2 entries. Refer to the Chart of Accounts for exact wording of account titles. Chart of moni inte LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary Journal