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Prepare journal entries to record the following production activities for Hotwax. 1. Requisitioned $10,700 of indirect materials for use in production of surfboard wax 2. Incurred $176,000 overhead costs (credit Other accounts). 3. Applied overhead at the rate of 140% of direct labor costs. Direct labor costs were $85,000 in the Mixing department and $100,000 in the Shaping department View transaction list Journal entry worksheet Requisitioned $10,700 of indirect materials for use in production of surfboard wax Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal