Prepare journal entries to record transactions a through h. a. Raw materials purchased on credit, $94,000. b. Direct materials used, $40,500. Indirect materials used, $25,000. c. Direct labor used, $50,000. Indirect labor used, $20,000. (Record using Factory Wages Payable.) d. Paid cash for other actual overhead costs, $7,875. e. Applied overhead at the rate of 125% of direct labor cost. f. Transferred cost of jobs completed to finished goods, $74,000. g. Sales of jobs on credit was $105,000. h. Cost of jobs sold was $74,000.