Prepare summary Journal entries to record the following transactions for a company in its first month of operations, a. Raw materials purchased on account, $98,000 b. Direct materials used in production, $41,500. Indirect materials used in production, $18,800, c. Pald cash for factory payroll $45,000. Of this total, $33,000 is for direct labor and $12,000 is for indirect labor d. Pald cash for other actual overhead costs, $8,125 e. Applied overhead at the rate of 125% of direct labor cost. 1. Transferred cost of jobs completed to finished goods, $63,000. g1. Jobs that had a cost of $63,000 were sold 92. Sold jobs on account for $90,000 View transaction fist Journal entry worksheet 3 4 5 6 7 8 9 Record raw materials purchased on account. Note: Enter debes before credits Transaction General Journal Factory Overhead Debit Credit Poy 4 of 7 Next > MacBook Air 20 . A * # 3 % 5 2 & 7 4 ON 8 9 2 w E R T Y U O