The Stevens Manufacturing Company uses a job order cost system. Using the accounts listed below, select the appropriate identification LETTER, and record it in the space provided as a Dr.(s) and Cr.(s) If you use the account titles, rather than the ACCOUNT TITLES, the entire problem will be incorrect. Record the transactions in the space provided - one (1) transaction per line. The following, is an example as to how the transaction should be listed; using identification numbers: On line one of the space provided, provide your answer as follows: Transaction 1. (Dr.) A; (Cr.) B If there are more than two accounts Dr. and/or Cr., record it as follows: Transaction 1. (Dr.) A, B ; (Cr.) C A. Cash B. Accounts receivable C. Raw Materials Inventory D. E. Work in Process Inventory Finished Goods Inventory F. Accounts Payable G. Factory Labor H. Manufacturing Overhead I. Cost of Goods Sold J. Sales Revenue. Transactions 1. $150,000 in raw materials were purchased on account. 2. Issued a $500 check for repair work on factory equipment. 3. Direct materials in the amount of $125,000 were requisitioned; $120,000 of direct materials and $5,000 in indirect materials. 4. Factory labor incurred and paid, $83,000. 5. Allocated factory labor; $75,000 in direct labor, and $8,000 in indirect labor. 6. Manufacturing overhead was applied to jobs using a predetermined overhead rate based on 80% of direct labor costs. Account(s) Account(s) Debited Credited 7. Actual manufacturing overhead costs incurred on account during the month amounted to: $50,000. 8. $45,000 in goods were completed and 9. transferred to finished goods inventory. Goods costing $23,000 were sold for $48,000 on account. 10. Paid for the raw materials purchased in 1. 11. After completing all of the above transactions, add ALL of the actual manufacturing overhead, then using a T account, record the actual manufacturing overhead (MOH) as a debit to the T account. Then compare it to the applied manufacturing overhead. You will use the predetermined overhead rate given in the problem to calculate the amount of applied/assigned manufacturing overhead. Record the applied/assigned manufacturing to your T account as a credit. After you have recorded the actual MOH as a debit (dr.) and the applied/assigned MOH as a credit (cr.) on your T account, calculate the balance of the T account. Is manufacturing overhead under- or over-applied? If you response is under-applied, record transaction #11 in the space provided as: under- $500. If your response is over-applied, then record your response as: over- $900