Part 1: The Perrot Company is a computer parts manufacturer and had the following transactions and events during the year. Estimated overhead for the year was $175,000; estimated labor for the year was 6,000 hours. a. Purchased materials on account, $126,000. b. Traced materials to jobs $110,880; general shop materials used $9,500. c. Labor traced to jobs $165,000, untraced labor was $22,200. d. Overhead incurred (not including materials or labor): $139,600. e. Overhead is applied to jobs based on labor hours. All workers were paid $30/hr. f. Ending work-in-process consisted of one job with a cost of $1,976. There was no beginning work-in-process. g. Completed jobs were billed to the customers for $476,000. Required: (1) Prepare the journal entries to record the transactions for the year.