Piedmont Paint Company uses a job-order costing system, and the company had two jobs in process at the beginning of the current year. Job JY 65 currently has a cost of $134,400 assigned to it, and job DC66 currently has a cost of $85,600 assigned to it. The following additional information is available. - The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity (based on practical capacity) for the year were $1,344,000 and 16,000 hours, respectively. - The company worked on four jobs during the first quarter. Direct materials used, direct labor incurred, and machine hours consumed were as follows: - Manufacturing overhead during the first quarter included charges for depreciation (\$54,400), indirect labor ($96,000), indirect materials used ($8,000), and other factory costs ($223,200). - Piedmont Paint Company completed job JY65 and job DC66. Job DC66 was sold on account, producing a profit of \$55,520 for the firm. Required: 2. Prepare journal entries as of March 31 to record the following. (Note: Use summary entries where appropriate by combining individual job data.) a. The issuance of direct material to production and the direct labor incurred. b. The manufacturing overhead incurred during the quarter. c. The application of manufacturing overhead to production. d. The completion of jobs JY65 and DC66. e. The sale of job DC66