Ivanhoe Corporation incurred the following transactions. 1. Purchased raw materials on account $ 50,060. 2. Raw Materials of $ 38,880 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $ 7,400 was classified as indirect materials. 3. Factory labor costs incurred were $ 64,720. 4. Time tickets indicated that $ 58,320 was direct labor and $ 6,400 was indirect labor. 5. Manufacturing overhead costs incurred on account were $ 86,940. 6. Depreciation on the company's office building was $8,720. 7. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $ 95,040 were completed and transferred to finished goods. 9. Finished goods costing $ 81,000 to manufacture were sold on account for $ 111,240. No. Account Titles and Explanation Debit Credit (1) (2) (3) (4) (5) (6) (7) (8) (9) (To record the sale) (To record the cost of the sale)