Malone, Inc. uses a job order cost accounting system and keeps perpetual inventory records Prepare journal entries to record the following transactions during the month of July. July 2 Purchased raw materials for $18,000 on account 9 Raw materials requisitioned by production: Direct materials $14.000 Indirect materials 2.000 14. Paid factory utilities, $2, 300 and repairs for factory equipment, $4,000 21 Incurred $45,000 of factory labor 26 Time tickets indicated the following: Direct Labor (3,000 hrs times $12 per hr) = $36,000 Indirect Labor (1,000 hrs times $9 per hr) = 9.000/$45.000 28 Applied manufacturing overhead to production based on a predetermined overhead rate of $6 per direct labor hour worked 28 Goods costing $56,000 were completed and transferred to finished goods 30 Goods costing $50,000 were sold for $80,000 on account