Please explain the first table and please record all the transactions in the worksheet and total each column.

The corporation worked on three jobs during its first year. Data about these jobs follows. Assume all transactions are cash transactions unless otherwise indicated. The corporation applies factory overhead using a predetermined overhead rate of $0.65 per direct labor dollar. It completed Jobs 1 and sold Job 1. Required: Record these transactions in the worksheet and total each column. 1. Issued $305,000 of common stock. 2. Purchased $33,000 of raw materials. 3. Record direct material used. 4. Paid direct labor production workers. 5. Applied overhead using $0.65 per direct labor dollar. (the value of the table) 6. Record actual overhead for $49,000. 7. Transferred the cost of Job 1 the finished goods inventory. 8. Sold Job 1, recognizing $96,900. 9. Record cost of goods sold for the Job 1. 10. Paid accounts payable. 11. Recognized $8,000 of selling, general, and administrative expenses. 12. Closed any account over-or-underapplied overhead against cost of goods sold