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Shefeld Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,600, Work in ProcessCutting $3,800, Work in ProcessAssembly $1 1,500,

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Shefeld Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,600, Work in ProcessCutting $3,800, Work in ProcessAssembly $1 1,500, and Finished Goods $32,000. During July, the following transactions occurred. Purchased $64,200 of raw materials on account. Incurred $61,000 of factory labor. {C redit Wages Payable.) Incurred $71,000 of manufacturing overhead; $42,300 was paid and the remainder is unpaid. Requisitioned materials for Cutting $16,700 and Assembly $9,600. Used factory labor for Cutting $34,300 and Assembly $26,700. Applied overhead at the rate of $21 per machine hour. Machine hours were Cutting 1,720 and Assembly 1,800. Transferred goods costing $68,210 from the Cutting Department to the Assembly Department. Transferred goods costing $ 136,200 from Assembly to Finished Goods. Sold goods costing $152,600 for $202,300 on account. .'OFUI'JP'WPWNH Journalize the transactions. {Credit account titles are aumtlcaily indented when mum is entered. Do not indent manually.) No. Account Tias and Explanation Debit Credit \f:: [To record the cost of goods sold} %;Q %;Q (To record the sale)

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