Coronado Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $53,000 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. Factory labor costs incurred were $61,300. Time tickets indicated that $54,300 was direct labor and $7,000 was indirect labor. Manufacturing overhead costs incurred on account were $82,000. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $92,200 were completed and transferred to finished goods. Finished goods costing $80,900 to manufacture were sold. 5. 6. 7. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses eg. (45).) Raw Materials Inventory $ Manufacturing Costs Factory Labor 1. Purchased raw materials Manufacturing Overhead $ $ 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8. Goods sold Manufacturing Overhead Work in Process Inventory Finished Goods Inventory $ Cost of Goods Sold $ $