#2 (14 points) Pond Corporation had the following transactions during its first month of operations 1. Purchased raw materials on account, $85,000. 2. 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. 3. Factory labor costs incurred were $175,000 of which $145,000 pertained to factory wages payable and $30,000 pertained to employer payroll taxes payable. 4. Time tickets indicated that $145,000 was direct labor and $30,000 was indirect labor. 5. Overhead costs incurred on account were $198,000. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Jobs costing $271,500 are completed and transferred to finished goods. 8. Finished goods costing $100,000 to manufacture were sold on account for $130,000 Instructions Journalize the above transactions for Pond Corporation. (Explanations not required) Use template provided Credit Debit Date Accounts and Explanations