Kimmel Accounting, 6e Help 1 Exercise 16-4 Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials$4,600, Work in Process-Cutting $3.500, Work in Process-Assembly $11,400, and Finished Goods $32,600. During July, the f transactions occurred. 1. Purchased $63,100 of raw materials on account. 2. Incurred $60,900 of factory labor. (Credit Wages Payable.) 3. Incurred $71,600 of manufacturing overhead: $41,900 was paid and the remainder is unpaid 4. Requisitioned materials for Cutting $16,700 and Assembly $9,700. 5. Used factory labor for Cutting $34,000 and Assembly $26.900. 6. Applied overhead at the rate of $21 per machine hout, Machine hours were Cutting 1,720 and Assembly 7. Transferred goods costing $69,660 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $135,600 from Assembly to Finished Goods. 9. Soid goods costing $152.900 for $202,600 on account. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation 2. 3. 4