Current Attempt in Progress

Ivanhoe Company has two production departments: Cutting and Assembly. July $1$ inventories are Raw Materials $$4,536,$ Work in Process$-$Cutting $$3,132,$ Work in Process$-$Assembly $$11,448,$ and Finished Goods $$33,480.$ During July, the following transactions occurred.

Purchased $$67,500$ of raw materials on account.

Incurred $$64,800$ of factory labor. $($Credit Wages Payable.$)$

Incurred $$75,600$ of manufacturing overhead; $$43,200$ was paid and the remainder is unpaid.

Requisitioned materials for Cutting $$16,956$ and Assembly $$9,612.$

Used factory labor for Cutting $$35,640$ and Assembly $$29,160.$

Applied overhead at the rate of $$18$ per machine hour. Machine hours were Cutting $1,820$ and Assembly $1,852.$

Transferred goods costing $$73,008$ from the Cutting Department to the Assembly Department.

Completed and transferred goods costing $$145,692$ from Assembly to Finished Goods Inventory.

Sold goods costing $$162,000$ for $$216,000$ on account.

Journalize the transactions. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$