Blossom Corporation had the following transactions during its first month of operations:

1. Purchased raw materials on account, $ 68,000.

2. Raw materials of $ 24,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 4,800 was classified as indirect materials.

3. Factory labor costs incurred were $ 140,000 of which $ 116,000 pertained to factory wages payable and $ 24,000 pertained to employer payroll taxes payable.

4. Time tickets indicated that $ 116,000 was direct labor and $ 24,000 was indirect labor.

5. Overhead costs incurred on account were $ 158,400.

6. Manufacturing overhead was applied at the rate of 150% of direct labor cost.

7. Goods costing $ 92,000 are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory.

8. Finished Goods Inventory with a cost of $ 80,000 was sold on account for $ 104,000.

Current Attempt in Progress Blossom Corporation had the following transactions during its first month of operations: 1. 2. 3. 4. Purchased raw materials on account, $ 68,000 Raw materials of $ 24,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 4,800 was classified as indirect materials. Factory labor costs incurred were $ 140,000 of which $ 116,000 pertained to factory wages payable and $ 24.000 pertained to employer payroll taxes payable Time tickets indicated that $116,000 was direct labor and $ 24,000 was indirect labor. Overhead costs incurred on account were $ 158,400. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $ 92,000 are still incomplete at the end of the month, the other goods were completed and transferred to finished Goods Inventory Finished Goods Inventory with a cost of $ 80,000 was sold on account for $ 104,000. 5. 6. 7. 8. No. Account Titles and Explanation Debit Credit 1. 2. 6. 7. 8. (To record sales.) (To record cost of goods sold.) Attent