Prepare joumal entries for the following: - Purchased $70,000 in raw material on account. - Requisitioned into production $60,000 direct material \& $3,000 indirect material. - Recorded \$50,000 direct labor \& 5,000 indirect labor on account. - Recorded depreciation on factory machinery $60,000. - Paid cash of $4,000 for factory electricity - Applied OH at 150% of DLS. Show computation. - Goods of \$169,000 were completed. - Goods cpsting $118,000 were sold on account for $236,000