E3-29A Record journal entries (Learning Objectives 2, 3, 5, & 6) The following transactions were incurred by Whooley Fabricators during January, the first month of its fiscal year. Requirements 1. Record the proper journal entry for each transaction. a. $205,000 of materials was purchased on account. b. $174,000 of materials was used in production; of this amount, $146,000 was used on specific jobs. c. Manufacturing labor and salaries for the month totaled $210,000. $200,000 of the total manufacturing labor and salaries was traced to specific jobs, and the remain- der was indirect labor used in the factory. d. The company recorded $16,000 of depreciation on the plant and plant equipment. The company also received a plant utility bill for $14,000. e. $56,000 of manufacturing overhead was allocated to specific jobs. 2. By the end of January, was manufacturing overhead overallocated or underallocated? By how much