1. 2. 3. 4. 3 4 5 6 5. Purchased raw materials on account, $85,000. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classified as indirect materials. Factory labor costs incurred were $175,000. Time tickets indicated that $145,000 was direct labor and $30,000 was indirect labor. Overhead costs incurred were $198,000. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $115,000 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods. 7. 8. Finished goods costing $100,000 to manufacture were sold. Using the grid below, record the above transactions for Fort Corporation. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Raw Materials Inventory 1. $ $ 2. 2. 3. 4. 4. 5. 6. 7. Manufacturing Costs Factory Labor Manufacturing Overhead $ 6A $ Work in Process Inventory