Exercise 14-7 Bramble Corporation incurred the following transactions. Purchased raw materials on account $52,700. 1. Raw Materials of $42,700 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,600 was classified as indirect materials. 3. Factory labor costs incurred were $67,600. Time tickets indicated that $55,500 was direct labor and $12,100 was indirect labor Manufacturing overhead costs incurred on account were $81,800. 6. Manufacturing overhead was applied at the rate of 160% of direct labor cost 7. Goods costing $90,500 were completed and transferred to finished goods Finished goods costing $78,000 to manufacture were sold. 2. 4. 5. 8. Record the transactions. (Enter negative amounts using elther a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Manufacturing Costs Factory Labor Raw Materials Inventory Manufacturing Overhead Work in Process Inventory Finished Goods Inventory Cost of Goods Sold 1. Purchased raw materials 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor S. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8. Goods sold