> Question 34 Present entries to record the following summarized operations related to production for a company using a job order cost system: (6) Materials purchased on account $155,000 (b) Materials requisitioned: For production orders 140,000 (0) Factory labor used: On production orders 120,000 (d) Factory overhead costs incurred (actual) on account 96,000 (0) Factory overhead applied, based on machine hours 101.000 (1) Job #1 finished 356,000 (8) Job I sold to customer on account: Total cost 356,000 Selling price to customer 550,000