PRINTER VERSION RACK NEXT Sheffield Corporation incurred the following transactions. A 1. 2. 3. . 4. Purchased raw materials on account $55,600. Raw Materials of $36,400 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,600 was classified as indirect materials Factory labor costs incurred were $65,100. Time tickets indicated that $55,700 was direct labor and $9,400 was indirect labor, Manufacturing overhead costs incurred on account were $85,500. Manufacturing overhead was applied at the rate of 160% of direct labor cost, Goods costing $94,000 were completed and transferred to finished goods, Finished goods costing $80,200 to manufacture were sold 5 6. 7 8. 2x Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg -45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead Work in Process Inventory Finished Goods Inventory Cost of Goods Sold 1. Purchased raw materials $ $ 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8. Goods sold