Raw materials purchased on account $87,000 Direct materials used in production $56,400 Factory wages earned (direct labor) $18,350 Overhead rate 120% of direct labor cost Prepare Journal entries to record the following events 1. Raw materials purchased. 2 Direct materlals used In production. 3. Direct labor used in production. 4. Applied overhead. View transaction list Journal entry worksheet 2 3 4 Record raw materials purchased on account. Note: Enter debits before credits. Transaction General Journat Debit Credit