Ocean, Inc. had the following activities during its most recent period of operations:

(a) Purchased $275,000 of raw materials on credit.

(b) Issued $250,000 of raw materials into production (80% direct; 20% indirect).

(c) Incurred and paid factory labor costs of $400,000 cash (75% direct; 25% indirect).

(d) Incurred and paid factory utilities costs of $30,000.

(e) Recorded factory building depreciation of $50,000.

(f) Applied factory overhead at 80% of direct labor costs.

(g) Finished and transferred jobs totaling $525,000.

(h) Sold jobs that had a total cost of $380,000.

Required: Prepare journal entries to record the above transactions.