Find tools, topics, or helpIV. AJ Smith Compay has the following beginning inventory balances at 11?2019\table[[Beginning Raw materials,$,16,000,],[Beginning Work in process,$,25,000,all in Job 112],[FinishedGoods,$,-,(no beginning inventory in finished goods)]]AJ Smith company had the following transactions in January.Purchased Raw Materials on account for 200,000Salaries paid to factory workers was $60,000. All paid in cash.Factory rent of 70,000 and utility bills for 45,000 for the month were paid. and Depreciation on factory equipment was $90,000.Material and labor was charged to jobs in WIP in January as follows:\table[[,Material,Labor,Machine Hours],[Job 111,$,40,000,$,15,000,17,000],[Job 112,$,70,000,$,20,000,21,000],[Job 113,$,50,000,$,5,000,22,000],[General use,$,10,000,$,20,000,],[Total,$,170,000,$,60,000,60,000]]Make a journal for the material and the labor costs to jobs (2 Journals)5. Manufacturing overhead is applied at a rate of $4 per machine hour. There were 60,000 machine hours in the month. Make the entry to apply overhead.6. Jobs 111 and 112 were completed and transferred to finished Goods7. Job 111 was sold for $300,000. Make the journals for this. (include Cost)8. What is the over or under applied overhead amount ______ over or under____(choose one)9. What is the total ending inventory incl RM, WIP and FG at 131?2019(Remember to count beginning inventory)Create Journal entries for each transaction below:Number 8 and 9 are not journals and you need 2 journals for number 4 one materials and one labor