Sheridan Corporation incurred the following transactions. 1. 2. 3. 4. 5. 6. 7. Purchased raw materials on account $51,800. Raw Materials of $45,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,000 was classified as indirect materials. Factory labor costs incurred were $64,100. Time tickets indicated that $54,900 was direct labor and $9,200 was indirect labor. Manufacturing overhead costs incurred on account were 583,600. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $97,400 were completed and transferred to finished goods. Finished goods costing $82,100 to manufacture were sold. 8. Record the transactions. (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 Manufacturing Overhead Work in Process Inventory Finished Goods Inventory Cost of Goods Sold 51800 1. Purchased raw materials SU $1 $ x 9000 36000 2. Direct materials X x X X XH -45000 -45000 2. Indirect materials 64100 3. Incurred factory labor 9200 54900 4. Direct labor x X -64100 -64100 4. Indirect labor TITREJO 83600 5. Overhead costs incurred -87840 87840 6. Assigned overhead 7. Completed goods -97400 97400 8. Goods sold -82100