Question 6 Prepare the journal entries needed based on the following information: Estimated overhead for the month: $6,000 Estimated direct labor hours: 2,000 Purchased $35,000 of materials Requisitioned $10,000 of materials to be placed into production Incurred $4,000 of direct labor during the month (500 hours) Incurred the following actual factory overhead amounts: o Utilities: $1,000 o Indirect materials: $500 o Indirect labor: $1,000 o Rent: $1,500 Completed two jobs with a cost of $18,000 Sold both jobs completed at price = cost + 50% Applied overhead is $3,000