Prepare journal entries to record the following transactions: a. Purchased $38,500 of raw materials on account. b. Transferred $22,400 of direct materials and $6,350 of Indirect materials from raw materials into production c. Recorded $5,800 of direct labor and $7,630 of Indirect labor. d. Paid $3,200 for factory utilities. e. Received and paid an advertising bill for $8,000. f. Recorded $1,860 of depreciation on the factory equipment. g. Manufacturing overhead of $18,500 was applied to production. h. Completed product with a total cost of $39,750 and transferred it to the finished goods warehouse 1. Sold product costing $17,240 for $26,500 on account. 1. Closed the under over applied manufacturing overhead. Answer to problem 2: Date: Account Title: Debit: Crani