Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,800, Work in ProcessCutting $3,000, Work in ProcessAssembly $11,200, and Finished Goods $32,500. During July, the following transactions occurred.

1.		Purchased $64,500 of raw materials on account.
2.		Incurred $62,000 of factory labor. (Credit Wages Payable.)
3.		Incurred $71,100 of manufacturing overhead; $42,700 was paid and the remainder is unpaid.
4.		Requisitioned materials for Cutting $17,300 and Assembly $9,500.
5.		Used factory labor for Cutting $33,400 and Assembly $28,600.
6.		Applied overhead at the rate of $21 per machine hour. Machine hours were Cutting 1,730 and Assembly 1,760.
7.		Transferred goods costing $69,480 from the Cutting Department to the Assembly Department.
8.		Transferred goods costing $136,900 from Assembly to Finished Goods.
9.		Sold goods costing $152,600 for $201,900 on account.