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

Purchased raw materials on account, $$69,700.$

Raw materials of $$24,600$ were requisitioned to the factory. An analysis of the materials requisition slips indicated that $$4,920$ was classified as indirect materials.

Factory labor costs incurred were $$143,500$ of which $$118,900$ pertained to factory wages payable and $$24,600$ pertained to employer payroll taxes payable.

Time tickets indicated that $$118,900$ was direct labor and $$24,600$ was indirect labor.

Overhead costs incurred on account were $$162,360.$

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

Goods costing $$94,300$ 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 $$82,000$ was sold on account for $$106,600.$

not hident manuilix Uet af debit entries before crafi entries$)$

No$.$ Account ntiles and Explanation

Debit

Credit

$1.$

$2.$

$3.$

$4.$

$5.$

$6.$

$7.$

a$.$

$(70$ record sales$)$

$($To record cost of poots sold.$)$