Exercise 2-7 (Video) Crawford Corporation incurred the following transactions. 2. 3. 4. Purchased raw materials on account $55,600. Raw Materials of $36,400 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials. Factory labor costs incurred were $65,100, of which $51,800 pertained to factory wages payable and $13,300 pertained to employer payroll taxes payable. Time tickets indicated that $55,700 was direct labor and $9,400 was indirect labor Manufacturing overhead costs incurred on account were $85,500. Depreciation on the company's office building was $8,700. 2: Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $94.000 were completed and transferred to finished goods. Finished goods costing $80,200 to manufacture were sold on account for $113,700. 9. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation 8 100 (2) 20 [A] Debit Credit