Sheridan Corporation incurred the following transactions. 1. Purchased raw materials on account $46,600. 2. Raw Materials of $40,800 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,000 was classified as indirect materials. 3. Factory labor costs incurred were $60,300. 4. Time tickets indicated that $55,700 was direct labor and $4,600 was indirect labor. 5. Manufacturing overhead costs incurred on account were $83,700. 6. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 7. Goods costing $89,900 were completed and transferred to finished goods. 8. Finished goods costing $80,900 to manufacture were sold.

Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Manufacturing Costs Factory Labor Raw Materials Inventory Manufacturing Overhead $ $ 46600 $ $ $ $ 1. Purchased raw materials 2. Direct materials -33800 -7000 2. Indirect materials 3. Incurred factory labor 4. Direct labor 55700 4600 4. Indirect labor 83700 5. Overhead costs incurred -89120 6. Assigned overhead 7. Completed goods 8. Goods sold