Show the journal entries for each of the transactions. Please explain as well.

Highland Industries makes custom yachts using a job cost accounting system. In anticipation of a busy year for 2015, Highland's accountant estimated the following overhead costs for 2015: In the past, Highland has used direct labor hours to allocate overhead to the various yacht building jobs and they anticipate using the same for 2015. Highland anticipates using a total of 52,000 direct labor hours in 2015. At the beginning of 2015, Highland had no yachts in process or finished but did have $202,000 in raw materials left over from 2014. During 2015, Highland began work on 5 yachts (A, B, C, D, E). They also purchased and paid for $4, 355,000 in raw materials. According to purchase requisitions filed by yacht the materials directly used by each yacht was as follows: A - $478, 250 B - $946, 050 C - $1, 434, 300 D - $762, 900 E - $156, 800 Another $56, 570 of materials was used but could not be assigned specifically to a yacht According to time cards the 5 yachts each used the following number of direct labor hours paid at $20 per hour: A - 6, 285 B - 13, 160 C - 14, 420 D - 9, 720 E - 1, 880 The following overhead costs were paid in cash during 2015 - Supervision $185,000, Building taxes and other costs $83, 450, Shipping and receiving wages and machinery $71, 020, Repair and maintenance labor and supplies $58, 322, Gas, electric and water bills $213, 836. Job A and C were completed and sold for $2,000,000 and $4,000,000 in cash during 2015. Job B was completed but not sold as the buyer backed out