Prepare summary journal entries to record the following transactions for a company in its first month of operations. a. Raw materials purchased on account, $106,000. b. Direct materials used in production, $43.500. Indirect materials used in production, $19,600. c. Paid cash for factory payroll, $65,000. Of this total, $43,000 is for direct labor and $22,000 is for indirect labor d. Paid cash for other actual overhead costs, $8,625. Applied overhead at the rate of 125% of direct labor cost f. Transferred cost of jobs completed to finished goods, $82.000 g. Sold jobs on account for $118,000 g2). The jobs had a cost of $82.000 g() e. View transaction list Journal entry worksheet 6 7 1 2 3 5 Record raw materials purchased on account. Note: Enter debits before credits Credit Debit General Journal Transaction Vew general journal Record entry Clear entry 4 of 16 Prev Next here to search