Exercise 16-4 Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,700, Work in Process-Cutting $3,200, Work in Process-Assembly $10,8DD, and Finished Goods $32,700. During luly, the following transactions 1 Purchased $63,DD0 of raw materials on account 2. Inoured $60,700 of factory labor. (Credit Wages Payable.) 3. Inarred72,600 of manufacturing averhead; 42,900 was paid and the remainder is unpaid. 4. Requisitioned materials f 5 Used factory labor for Cutting $34,000 ad Assembly $26,700. 6. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,750. or Cutting $15,80D and Assembly $9,100, Transferred goods costing $69410 from the Cutting Department to the Assembly Department 8. Transferred goods costing $135,900 from Assembly to Finished Goods Sold goads costing $151,300 for $201,700 on account. Journalize the transactions. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually.) No. Account Titles and Explanation Debit 3. 1. 5