The following inventory information is available for Ricci Manufacturing Corporation for the year ended December 31, 2017: Beginning Ending Inventories: Raw materials Work in process Finished goods Total $17,000 9,000 11,000 $37,000 $19,000 14,000 8,000 $41,000 In addition, the following transactions occurred in 2017: 1. Raw materials purchased on account, $75,000. 2. Incurred factory labor, $80,000, all is direct labor. (Credit Factory Wages Payable). 3. Incurred the following overhead costs during the year: Utilities $6,800, Depreciation on manufacturing machinery $8,000, Manufacturing machinery repairs $9,200, Factory insurance $9,000 (Credit Accounts Payable and Accumulated Depreciation). 4. Assigned $80,000 of factory labor to jobs. 5. Applied $36,000 of overhead to jobs. Instructions (a) Journalize the above transactions.