Question 4: Axe Inc. recorded the following transactions for the just completed month: a $36,000 in raw materials was purchased on account. b. $120,000 in raw materials was requisitioned for use in production of this amount, $70,000 was for direct materials and the remainder was for indirect materials. c. Total labour wages of $152,000 were incurred. Of this amount, $83,000 was for direct labour and the remainder was for indirect labour. d. Additional manufacturing overhead costs of $154,000 were incurred. Record the above transactions in journal entries. [5 Marks]