Dodger Corporation had the following transactions during its May operations: May 1 Purchased raw materials on account, $43,000. May 2 Raw materials of $22,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $3,000 was classified as indirect materials. The remainder being direct materials. May 13 Factory labor costs incurred were $58,000 of which $50,000 pertained to factory wages payable and $8,000 pertained to employer payroll taxes payable. May 14 Time tickets indicated that $52,000 was direct labor and $6,000 was indirect labor. May 20 Overhead costs incurred on account were $62,000. May 26 Manufacturing overhead was applied at the rate of 110% of direct labor cost. May 27 Goods costing $60,000 were completed during the month. May 28 Finished goods costing $45,000 to manufacture were sold on account for $62,000. May 1 Raw Materials - 43,000 Accounts Payable- 43,000