Question 1 Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6 3. Factory labor costs incurred were $175,000 of which factory wages pa 4 Time tickets indicated that $145,000 was direct labor and $30,000 was indirect labor. 5. Overhead costs incurred on account were $198,000. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $115,000 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods 8. Finished goods costing $100,000 to manufacture were sold on account for $130,000. $145,000 pertained to factory wages payable and $30,000 pertained to employer payroll taxes payable. ,000 was classified as indirect materials ournalize the above transactions for Fort Corporation. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 2. 3. 2