Schrager Company has two production departments: Cutting and Assembly, July 1 inventories are Raw Materials $4,600, Work in Process-Cutting $3,500, Work in Process-Assembly $11,400, and Finished Goods $32,600. During July, the following transactions occurred Purchased $63.100 of raw materials on account. Incurred $60,900 of factory labor. (Credit Wages Payable.) Incurred $71,600 of manufacturing overhead: $41.900 was paid and the remainder is unpaid. Requisitioned materials for Cutting $16,700 and Assembly $9.700. Used factory labor for Cutting $34,000 and Assembly $26,900, Applied overhead at the rate of $ 21 per machine hour. Machine hours were Cutting 1.720 and Assembly 1.770, Transferred goods costing $69.660 from the Cutting Department to the Assembly Department, Transferred goods costing $135,600 from Assembly to Finished Goods Sold goods costing $152,900 for $202,600 on account. 2 3. 4. 5. 6. 7. 8. 9. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1. 2. 1 3. 4. 5. 6. 6. 1 7. 8. 9. (To record the cost of goods sold) (To record the sale)