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Bonita Corporation incurred the following transactions. 1. Purchased raw materials on account $46,800. 2. Raw Materials of $40,900 were requisitioned to the factory. An analysis
Bonita Corporation incurred the following transactions.
1. Purchased raw materials on account $46,800.
2. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,600 was classified as indirect materials.
3. Factory labor costs incurred were $63,800.
4. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor.
5. Manufacturing overhead costs incurked on account were $82,300.
6. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
7. Goods costing $93,700 were completed and transferred to finished goods.
8. Finished goods costing $78,000 to manufacture were sold.
Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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