The selected data that follow relate to the Underwood Furniture Company Direct material purchased on account Direct material used Direct labor Manufacturing overhead incurred Manufacturing overhead applied $162,000 70,000 121,000 105,000 92,000 During the year, products costing $312.000 were completed, and products costing $319,000 were sold on account for $450.000 Required: Prepare journal entries to record the preceding transactions and events (if no entry is required for a transaction/event, select journal entry required" in the first account field.) View transaction list Journal entry worksheet 6 5 7 8