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

1. Raw materials purchased on account, $90,000.
2. Direct materials used in production, $36,500. Indirect materials used in production, $19,200.
3. Paid cash for factory payroll, $50,000. Of this total, $38,000 is for direct labor and $12,000 is for indirect labor.
4. Paid cash for other actual overhead costs, $11,475.
5. Applied overhead at the rate of 125% of direct labor cost.
6. Transferred cost of jobs completed to finished goods, $56,800.
7. Sold jobs on account for $82,000. The jobs had a cost of $56,800.