Prepare summary journal entries to record the following transactions for a company in its first operating month.

1. Raw materials purchased from the account, $90,000.
2. Direct materials used in production, $36,500. Indirect materials used in production, $19,200.
3. Cash paid for factory payroll, $50,000. Of this total, $38,000 is for direct labor and $12,000 for indirect labor.
4. Cash paid for other actual overheads, $11,475.
5. Overhead applied at 125% of direct labor cost.
6. The cost of completed work transferred to finished products is $56,800.
7. He sold the works for $82,000 on the account. The jobs cost $56,800.