Page < 3 Custom Shipping Boxes, Inc. had the following transactions during its very first month of operations: 1. Purchased raw materials on account, $25,160. 2. Raw Materials of $17,910 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $1,045 was classified as indirect materials. 3. Factory labor costs incurred were $27,840 of which $24,768 pertained to factory wages payable and $3,072 pertained to employer payroll taxes payable. 4. Time tickets indicated that $22,840 was direct labor and $5,000 was indirect labor. 5. Overhead costs incurred on account were $36,888. 6. Manufacturing overhead was applied at the rate of 125% of direct labor cost. 7. Goods costing $8,770 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods. 8. Finished goods costing $16,740 to manufacture were sold on account for $31,950. Instructions Journalize the above transactions for Custom Shipping Boxes, Inc. Omit Explanations