QS 16-25 (Algo) Recording costs of factory overhead LO P3 Prepare journal entries to record the following production activities for Hotwax. a. Requisitioned $14,500 of indirect materials for use in production of surfboard wax. b. Incurred $194,000 in actual other overhead costs (paid in cash). c. Applied overhead at the rate of 145% of direct labor costs. Direct labor costs were $105,000 in the Mixing department and $95,000 in the Shaping department. QS 16-25 (Algo) Recording costs of factory overhead LO P3 Prepare journal entries to record the following production activities for Hotwax. a. Requisitioned $14,500 of indirect materials for use in production of surfboard wax. b. Incurred $194,000 in actual other overhead costs (paid in cash). c. Applied overhead at the rate of 145% of direct labor costs. Direct labor costs were $105,000 in the Mixing department and $95,000 in the Shaping department