Oriole Corporation had the following transactions during its first month of operations: 1. 2. 3. 4. Purchased raw materials on account $ 93,500. Raw materials of $33,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,600 was classified as indirect materials. Factory labor costs incurred were $192,500 of which $159,500 pertained to factory wages payable and $33,000 pertained to employer payroll taxes payable. Time tickets indicated that $159,500 was direct labor and $33,000 was indirect labor. Overhead costs incurred on account were $217,800. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $126,500 are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory Finished Goods Inventory with a cost of $110,000 was sold on account for $143,000. 5. 6. 7. 8 Journalize the above transactions for Oriole Corporation (Credit account titles are automatically indented when the amount is entered. not indent manually. List all debit entries before credit entries.) Journalize the above transactions for Oriole Corporation. (Credit account titles are automatically indented when the amount is en not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit 1. 1 2. 3. 4. 4. 5. 6. 7, 8. 6. 7. 8. (To record sales.) (To record cost of goods sold.)