Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,300, Work in Process-Cutting $3.700, Work in Process-Assembly $11,000, and Finished Goods $33,000. During July, the following transactions occurred. 1. Purchased $64,000 of raw materials on account. 2 Incurred $61,100 of factory labor. (Credit Wages Payable) 3 Incurred $73,000 of manufacturing overhead; $42.200 was paid and the remainder is unpaid. 4. 5. Used factory labor for Cutting $33.500 and Assembly $27.600. 6. 7. 8 9. Requisitioned materials for Cutting $15,900 and Assembly $9,000. Applied overhead at the rate of $21 per machine hour. Machine hours were Cutting 1,690 and Assembly 1.780. Transferred goods costing $69,160 from the Cutting Department to the Assembly Departient. Transferred goods costing $136,600 from Assembly to Finished Goods. Sold goods costing $152,400 for $202,200 on account. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit 1. Raw Materials Inventory Accounts Payable 15900 9000 2. Factory Labor Wages Payable 27600 3. Manufacturing Overhead 33500 Cash Accounts Payable 4. Work In Process Cutting Work in Process Assembly Rave Materials Inventory Work in Process-Cutting 37380 35490 69160 Credit 24900 61100 72870 69160 5. Work in Process Cutting 152400 6. Work in Process Assembly Raw Materials Inventory Work in Process Cutting Work in Process Assembly Manufacturing Overhead - 7. Work in Process Assembly Work in Process Cutting 8. Finished Goods Inventory Work in Process-Assembly 9. Cost of Goods Sold Feished Goods invertiry (To record the cost of goods sold) 69160 152400 Question 7 of 7 < Work in Process Cutting 8. Finished Goods Inventory Work in Process Assembly 9. Cost of Goods Sold Finished Goods Inventory (To record the cost of goods sold) Accounts Receivable Sales Revenue (To record the sale) eTextbook and Media List of Accounts 20200 1.8/3.75 E E 20200