Note: do not use commas and dollar sign, and please submit the answer in text(without image) It is easy to copy Prepare summary Journal entries to record the following transactions for a company in its first month of operation a. Raw materials purchased on account, $88.000, b. Direct materials used in production, $39.000. Indirect materials used in production, $17.800. c. Pald cash for factory payroll, $55,000 of this total $39,000 is for direct Inbor and $16,000 is for indirect labor d. Paid cash for other actual overhead costs, $7,500. e. Applied overhead at the rate of 120% of direct lation cost Transferred cost of jobs completed to finished goods, $60600. g1. Jobs that had a cost of $60/600 were sold. 02. Soldjobs on becaury for $86,500 Entry no 1 2 3 4 5 Record the raw material purchase on account Record the entry to assign cost of direct material used Record the entry for Indirect Material Record the usage of direct and indirect labour, paid in cash Record other actual overhead cost, paid in cash Record the entry to apply overhead at a rate of 120% of the direct labour cost Record cost of job completed Record the cost of the job sold Record sales on account 6 7 8 9