Sheffield Corporation incurred the following transactions. 1. 2. 3. 4. Purchased raw materials on account $53,800. Raw Materials of $36,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials. Factory labor costs incurred were $61,900. Time tickets indicated that $54.900 was direct labor and $7,000 was indirect labor. Manufacturing overhead costs incurred on account were $82,300. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $96,600 were completed and transferred to finished goods. Finished goods costing $79,400 to manufacture were sold. 5. 6. 7. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses es: (45) Manufacturing Costs Factory Labor Raw Materials Inventory Manufacturing Overhead $ $ 1. Purchased raw materials 2. Direct materials 2. Indirect materials 3. incurred factory labor = 7. 8 Goods costing 596,600 were completed and transferred to finished goods. Finished goods costing 579,400 to manufacture were sold. Record the transactions. (Enter negative amounts using either a negative sign preceding the number es.-45 or parentheses es: (451) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead $ 1. Purchased raw materials $ 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4 Direct labor 4 Indirect labor 5. Overhead costs incurred 6 Assigned overhead 7 Completed goods B. Goods sold