1. 2. Sheridan Corporation incurred the following transactions. Purchased raw materials on account $46.600. Raw Materials of $40,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,000 was classified as indirect materials. Factory labor costs incurred were $60,300. Time tickets indicated that $55,700 was direct labor and $4.600 was indirect labor. 5. Manufacturing overhead costs incurred on account were $83.700. 6. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $89,900 were completed and transferred to finished goods. Finished goods costing $80,900 to manufacture were sold. 3. 4 7. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead $ $ $ 1 Purchased raw materials 2 Direct materials 2 Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8 Goods sold eTextbook and Media Save for Later Attempts: 0 of 3 used Submit