Exercise 16-4 Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,700, Work in Process-Cutting $3,800, Work in Process-Assembly $11,500, and Finished Goods $32,000. During July, the following transactions occurred. 1. Purchased $63,800 of raw materials on account. 2. Incurred $60,100 of factory labor. (Credit Wages Payable.) 3. Incurred $72,000 of manufacturing overhead; $42,200 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $17,500 and Assembly $9,900 5. Used factory labor for Cutting $34,400 and Assembly $25,700. 6. Applied overhead at the rate of $21 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,780. 7. Transferred goods costing $68,190 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $136,900 from Assembly to Finished Goods. 9 Sold goods costing $152,600 for $202,500 on account. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually