15 - Exercise 15 Prepare summary Journal entries to record the following transactions for a company in its first month of operations. o. Raw materials purchased on account. $82,000. b. Direct materials used in production, $37.500. Indirect materials used in production, $17.200. c. Paid cash for factory payroll , $40,000 of this total, $30,000 is for direct labor and $10,000 is for indirect labor d. Paid cash for other actual overhead costs, $7,125. e. Applied overhead at the rate of 125% of direct labor cost 1. Transferred cost of jobs completed to finished goods, $54,400. gt. Jobs that had a cost of $54.400 were sold. 92. Sold Jobs on account for $77,000. View transaction list Journal entry worksheet A 7 3 4 1 8 5 9 2 6 Record raw materials purchased on account. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal no