Cullumber Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $3,528, Work in Process-Cutting $2,436, Work in Process-Assembly $8,904, and Finished Goods $26,040. During July, the following transactions occurred. 1. Purchased $52,500 of raw materials on account. 2. Incurred $50,400 of factory labor. (Credit Wages Payable.) 3. 4. 5. 6. 7.0 Incurred $58,800 of manufacturing overhead: $33,600 was paid and the remainder is unpaid. Requisitioned materials for Cutting $13,188 and Assembly $7,476. Used factory labor for Cutting $27,720 and Assembly $22,680. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,412 and Assembly 1.444. Transferred goods costing $56,784 from the Cutting Department to the Assembly Department. 8. Completed and transferred goods costing $113,316 from Assembly to Finished Goods Inventory. Sold goods costing $126,000 for $168,000 on account.