Sheridan Company has two production departments: Cutting and Assembly. During July, the following transactions occurred. 1....

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Sheridan Company has two production departments: Cutting and Assembly. During July, the following transactions occurred. 1. Purchased $63,800 of raw materials. 2. Incurred $60,800 of factory labor. 3. Incurred $72,400 of manufacturing overhead. 4. Requisitioned materials for Cutting $17,500 and Assembly $9,200. 5. Used factory labor for Cutting $33,600 and Assembly $27,200. 6. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,730 and Assembly 1.750. 7. Transferred goods costing $69,260 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $136,900 from Assembly to Finished Goods. 9. Sold goods costing $122,900. Record the transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MANUFACTURING COSTS Raw Materials Inventory Factory Labor Manufacturi Direct materials purchased Factory labor incurred Manufacturing overhead incurred Direct materials used Factory labor assigned Manufacturing Overhead assigned Transfer from Cutting to Assembly Transfer from Assembly to Finished Goods Record Cost of Goods Sold MANUFACTURING COSTS Raw Materials Inventory Factory Labor Manufacturing Ov Cutting WORK IN PROCESS Assembly FINISHED GOODS INVENTORY COST OF GOODS SOLD $ Sheridan Company has two production departments: Cutting and Assembly. During July, the following transactions occurred. 1. Purchased $63,800 of raw materials. 2. Incurred $60,800 of factory labor. 3. Incurred $72,400 of manufacturing overhead. 4. Requisitioned materials for Cutting $17,500 and Assembly $9,200. 5. Used factory labor for Cutting $33,600 and Assembly $27,200. 6. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,730 and Assembly 1.750. 7. Transferred goods costing $69,260 from the Cutting Department to the Assembly Department. 8. Transferred goods costing $136,900 from Assembly to Finished Goods. 9. Sold goods costing $122,900. Record the transactions using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) MANUFACTURING COSTS Raw Materials Inventory Factory Labor Manufacturi Direct materials purchased Factory labor incurred Manufacturing overhead incurred Direct materials used Factory labor assigned Manufacturing Overhead assigned Transfer from Cutting to Assembly Transfer from Assembly to Finished Goods Record Cost of Goods Sold MANUFACTURING COSTS Raw Materials Inventory Factory Labor Manufacturing Ov Cutting WORK IN PROCESS Assembly FINISHED GOODS INVENTORY COST OF GOODS SOLD $