Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $102,000. b. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. c. Paid cash for factory payroll , $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,375. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $72,600. 91. Jobs that had a cost of $72,600 were sold. 92. Sold jobs on account for $104,000. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 9 Record raw materials purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit