Present entries to record the following summarized operations related to production for a company using a job order cost system.

a. Materials purchased on account: $155,000

b. Materials requisitioned:

For production orders 140,000

c. Factory labor used:

On production orders 120,000

d. factory overhead costs incurred (actual) on account 96,000

e. factory overhead applied, based on machine hours 101,000

f. Job #1 finished 356,000

g. Job #1 sold to customer on account; Total cost 356,000

selling price to customer 550,000