Current Attempt in Progress 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 $2,500 of raw materials on account. 2. incurred $50,400 of factory labor, (Credit Wages Payable.) 3. Incurred $58,800 of manufacturing overhead; $33,600 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $13,288 and Assembly $7,476. 5. Used factory labor for Cutting $27,720 and Assembly $22.680. 6. Applied overhead at the rate of $18 per machine hour, Machine hours were Cutting 1,412 and Assembly 1,444 . 7. 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. 9. Sold goods costing $126,000 for $168,000 on account. Question 1 of 4 12 6. 7. 8. 9. (To record the cost of goods sold) (To record the sole) eTextbook and Media List of Accounts