Prepare the journal entries for the following transactions for Miller Products, Inc. which uses a job order cost accounting system: May 1 - Purchased materials on account $10,000 May 5 - Issued direct materials to Job No. 52 $3,000 May 7 - Incurred direct labor Job. No 52 $ 5,000 May 8 - Applied factory overhead Job. No. 52 $1,500