uark Spy Equipment manufactures espionage equipment. Quark uses a job-order cost system and applies overhead to jobs the basis of direct labor-hours. For the current year, Quark estimated that it would work 100,000 direct labor-hours and incur $20,000,000 of manufacturing overhead cost. The following summarized information relates to January of the current year. The raw materials purchased include both direct and indirect materials. 00 Raw materials purchased on account. $1,412,000 Direct materials requisitioned into production 1,299,500 Indirect materials requisitioned into production. 98,000 Direct labor cost (7,900 hours @$40 per hour). 316,000 Indirect labor cost (10,200 hours @ $16 per hour) 163,200 Depreciation on the factory building 190,500 Depreciation on the factory equipment 890,700 Utilities for the factory. 79,600 Cost of jobs finished... 2,494,200 Cost of jobs sold..... 2,380,000 Sales (all on account). 3,570,000 Required: Prepare journal entries to record Quarks transaction for the month of January. Do not close out the manufacturing overhead account