2. Alhamd Company have incurred the following transaction. Journalise the following transaction in proper journal format. a. Raw Materials of $63,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8600 was classified as indirect materials. b. Factory labor costs incurred were $5390, of which $4900 pertained to factory wages payable and $490 pertained to employer payroll taxes payable. c. Time tickets indicated that $47,000 was direct labor and $6,900 was indirect labor. d. Manufacturing overhead was applied at the rate of 125% of direct labor cost. e. Finished goods costing $75,000 to manufacture were sold on account for $103,000. Section A Short question (1x5 marks) 1. Differentiate between financial accounting and management accounting with example