Crawford Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $46,300. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,800 was classified as indirect materials. Factory labor costs incurred were $59,900. Time tickets indicated that $54,000 was direct labor and $5,900 was indirect labor. Manufacturing overhead costs incurred on account were $80,500. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $88,000 were completed and transferred to finished goods. Finished goods costing $75,000 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 e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Inventory Finished Goods Inventory Cost of Goods Sold 1. Purchased raw materials $ $ $ $ $ $ 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