Ivanhoe Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,536, Work in Process-Cutting $3,132. Work in Process-Assembly $11,448, and Finished Goods $33,480, During July, the following transactions occurred. 1. Purchased $67,500 of raw materials on account. 2. Incurred $64,800 of factory labor. (Credit Wages Payable.) 3. Incurred $75,600 of manufacturing overhead; $43,200 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,956 and Assembly $9,612. 5. Used factory labor for Cutting $35,640 and Assembly $29,160. 6. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,820 and Assembly 1,852. 7. Transferred goods costing $73,008 from the Cutting Department to the Assembly Department. 8. Completed and transferred goods costing $145,692 from Assembly to Finished Goods Inventory. 9. Sold goods costing $162,000 for $2,16,000 on account. Journalize the transactions. (Ust all debit entries before credit entries. Gredit occount titles are automatically indented when amount is entered, Do not indent manually. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are outomatically indented when amour entered. Do not indent manually. Question 9 of 10 0.04/ 5. 6. 7. 8. 9. (To record the cost of goods sold) 7. 8. 9. (To record the cost of goods sold) (To record the sale)