Sanhill Corporation had the following transactions during jts first mknth of operatoons.

Sandhill Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $83,300. 2. Raw materials of $29,400 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $5,880 was classified as indirect materials. 3. Factory labor costs incurred were $171,500 of which $142,100 pertained to factory wages payable and $29,400 pertained to employer payroll taxes payable. 4. Time tickets indicated that $142,100 was direct labor and $29,400 was f. direct labor. 5. Overhead costs incurred on account were $194,040. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $112,700 are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory. 8. Finished Goods Inventory with a cost of $98,000 was sold on account for $127,400. Question 2 of 3 16 No. Account Titles and Explanation 1. Raw Materials Inventory Accounts Payable 2. Work in Process inventory Manutacturing Overhead Raw Materias Inventory 3. Factory Labod 4. 5