Exercise 17-4

Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $5,100, Work in ProcessCutting $3,800, Work in ProcessAssembly $11,500, and Finished Goods $32,100. During July, the following transactions occurred.

1.	Purchased $63,800of raw materials on account.
2.	Incurred $61,600of factory labor. (Credit Wages Payable.)
3.	Incurred $71,500of manufacturing overhead; $41,700was paid and the remainder is unpaid.
4.	Requisitioned materials for Cutting $17,300and Assembly $9,400.
5.	Used factory labor for Cutting $34,800and Assembly $26,800.
6.	Applied overhead at the rate of $21per machine hour. Machine hours were Cutting1,710and Assembly1,780.
7.	Transferred goods costing $68,480from the Cutting Department to the Assembly Department.
8.	Transferred goods costing $136,500from Assembly to Finished Goods.
9.	Sold goods costing $152,800for $201,200on account.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Account Titles and Explanation	Debit	Credit
1.
2.
3.
4.
5.
6.
7.
8.
9.
(To record the cost of goods sold)
(To record the sale)