P2-3C Victor Ramos is a contractor specializing in customnbuilt jacuzzis. On May 1, 2017, his ledger contains the following data. Raw Materials Inventory $30,000 Work in Process Inventory 13,080 Manufacturing Overhead 2,500 (dr.) The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000. Subsidiary data for Work in Process Inventory on May 1 include: J ob Cost Sheets Job Manufacturing by Customer Direct Materials Direct Labor Overhead Clark $2,600 $2,100 $1,680 Douglas 2,000 1 ,200 960 Evans 1,100 800 640 $5,700 $4,100 $3,280 During May, the following costs were incurred: (a) raw materials purchased on account $4,300, (b) labor paid $8,200, (c) manufacturing overhead paid $1,600. A summary of materials requisition slips and time tickets for the month of May reveals the following. J 01) by Customer Materials Requisition Slips Time Tickets Clark $ 500 $ 400 Douglas 800 1,000 Evans 2,300 1,300 Franz 1,900 2 ,900 5,500 5 ,600 General use 1,500 2,000 $7,000 $7,600 Overhead was charged to jobs on the basis of $0.80 per dollar of direct labor cost. The jacuzzis for customers Clark, Douglas, and Evans were completed during May. Each jacuzzi was sold for $15,000 cash. Instructions (a) Prepare journal entries for the May transactions: (i) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (ii) assign- ment of direct materials, labor, and overhead to production; and (iii) completion of jobs and sale of goods