Prepare summary journal entries to record the following transactions for a company in its first month of operations.

a$.$ Raw materials purchased on account, $$84,000.$

b$.$ Direct materials used in production, $$38,000.$ Indirect materials used in production, $$13,500.$

c$.$ Paid cash for factory payroll, $$45,000.$ Of this total, $$31,000$ is for direct labor and $$14,000$ is for indirect labor.

d$.$ Paid cash for other actual overhead costs, $$7,250.$

e$.$ Applied overhead at the rate of $120\%$ of direct labor cost.

f$.$ Transferred cost of jobs completed to finished goods, $$58,500.$

g$1.$ Jobs that had a cost of $$58,500$ were sold.

g$2.$ Sold jobs on account for $$84,000.$