1. Lily Company has two production departments: Cutting and Assembly, July 1 inventories are Raw Materials $4,400, Work in Process-Cutting $3,300 Work in Process-Assembly $10,800 and Finished Goods $32,000. During July, the following transactions occurred Purchased $63,700 of raw materials on account. 2. Incurred $60,200 of factory labor. (Credit Wages Payable.) 3. Incurred $71,100 of manufacturing overhead: $41,700 was paid and the remainder is unpaid. Requisitioned materials for Cutting $15,900 and Assembly $9,600, 5. Used factory labor for Cutting $33,800 and Assembly $26.400. Applied overhead at the rate of $20 per machine hour. Machine hours were Cutting 1.700 and Assembly 1,750, Transferred goods costing $69.080 from the Cutting Department to the Assembly Department Transferred goods costing $135,500 from Assembly to Finished Goods Sold goods costing $151.900 for $201.400 on account 4. 6. 7 8 9. Journalize the transactions (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Credit Debit 1. 2 3 5. 6. 7. 8. 9. (To record the cost of goods sold) (To record the sale)