Prepare the necessary journal entries from the following information for RAK Manufacturing Company. 1. Purchased materials on account, $215,000. 2. Requisitioned materials for production as follows: Direct Materials - $130,000 3. Direct Labour for production is $98,000, and Indirect Labor is $33,000 charged to Cash 4. Incurred other Manufacturing Overheads on account $64,000. 5. Overhead is Applied to production based on Direct Labour Cost at the rate of 125%. 6. Goods were completed this month costing $112,000. 7. Sold Goods costing $52,000 for $105,000 on account 8. Close the Manufacturing Cherhead Control account to Cost of Goods Sold. Date Account Name Debit $ Credit $ (1)