Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $100,000. b. Direct materials used in production, $42,000. Indirect materials used in production, $15,000. c. Paid cash for factory payroll, $50,000. Of this total, $36,000 is for direct labor and $14,000 is for indirect labor. d. Paid cash for other actual overhead costs, $8,250. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $68,175. g1. Jobs that had a cost of $68,175 were sold. g2. Sold jobs on account for $97,000. Record raw materials purchased on account . Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record the entry to assign costs of direct materials used. Note: Enter debits before credits. Transaction General Journal Debit Credit b(1). Record the entry for indirect materials. Note: Enter debits before credits. Transaction General Journal Debit Credit b(2). Record the usage of direct and indirect labor, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record other actual overhead costs, paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit d. Record the entry to apply overhead at a rate of 120% of direct labor cost. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record costs of jobs completed. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Record the cost of the jobs sold. Note: Enter debits before credits. Transaction General Journal Debit Credit g(1). Record sales on account. Note: Enter debits before credits. General Journal Debit Credit Transaction g(2)