ercise 15-07 (Video) old Corporation incurred the following transactions Purchased raw materials on account $49,100. Raw Materials of $14,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9.900 was classified as indirect materials, Factory labor costs incurred were $61,900, of which $51,400 pertained to factory wages payable and $10,500 pertained to employer payroll taxes payable Time tickets indicated that $55,300 was direct labor and $6,600 was indirect labor. Manufacturing overhead costs incurred on account were $81,900 Depreciation on the company's office building was $8,500. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $93,900 were completed and transferred to finished goods. Finished goods costing $76,400 to manufacture were sold on account for $105,700. alize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit R! 1 Return to Blas S wygandt, Financial and Managerial, 3e System (1) (2) (3) (4) I (5) (6) (7) (8) arch (5) (6) () (8) (9) (To record the sale) (To record the cost of the sale) Click if you would like to Show Work for this question: Open Show Work earch O