Cutting and Assembly. July 1 $10.700, and Finished Goods $32,000. During July, the following transactions occurred. 1. Purchased $62,600 of raw materials on account. 2. Incurred $60,100 of factory labor. (Credit Wages Payable.) 3. Incurred $71,000 of manufacturing overhead; $41,000 was paid and the remainder is unpaid materials for Cutting $15,800 and Assembly $9,000. 5. 5. 7. 8. 9, Used factory labor for Cutting $33,100 and Assembly $27,000. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,750. Transferred goods costing $67,700 from the Cutting Department to the Assembly Department. Transferred goods costing $135,000 from Assembly to Finished Goods. Sold goods costing $151,000 for $201,000 on account. automatically indented when amount is entered. Do not indent manually account titles are No. Account Titles and Explanation Debit Credit 1053 AM