Carado Corporation incured the toning transaction Punchnet $33.000 2. Raw Materish of 836.100- $7.400- 3 Factory labor costs incurred were $61.300 4 Time tickets Indicated that $54.300 was direct labor and $7000 w 1510.100 pertained to Manufacturing overhead cats inred on and were $82.000 6 Depreciation on the company's offer building win $8.800. 7 Manufacturing head was applied at the rate of 360% of Good costing $12.200 were completed and transg Joure the transactions at the Na. Account Ties and Explanation 120 14) (5) 8 Debit Credit Coronado Corporation incurred the following transactions. 1. Purchased raw materials on account $53,000. 2. Raw Materials of $36,100 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,400 was classified as indirect materials. 3. Factory labor costs incurred were $61,300, of which $51,200 pertained to factory wages payable and $10,100 pertained to employer payroll taxes payable. Time tickets indicated that $54,300 was direct labor and $7,000 was indirect labor. 4. 5. Manufacturing overhead costs incurred on account were $82,000. 6. 7. Depreciation on the company's office building was $8,800. Manufacturing overhead was applied at the rate of 160 % of direct labor cost. 8. Goods costing $92,200 were completed and transferred to finished goods. 9. Finished goods costing $80,900 to manufacture were sold on account for $106,300. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) Raw Materials Inventory Accounts Payable (2) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory Debit Credit (3) Factory Labor Factory Wages Payable Employer Payroll Taxes Payable (4) Work in Process Inventory Manufacturing Overhead Factory Labor (5) Manufacturing Overhead Accounts Payable (6) Depreciation Expense Accumulated Depreciation-Buildings (7) Work in Process Inventory Manufacturing Overhead (8) Finished Goods Inventory Work in Process Inventory (9) Accounts Receivable Sales Revenue (To record the sale) (9) Accounts Receivable Sales Revenue (To record the sale) Cost of Goods Sold Finished Goods Inventory (To record the cost of the sale)