transactions occurred. 1. 2. 3. 4. 5. Purchased $62,600 of raw materials on account. Incurred $60,100 of factory labor. (Credit Wages Payable.) Incurred $71,000 of manufacturing overhead; $41,000 was paid and the remainder is unpaid. Requisitioned materials for Cutting $15,800 and Assembly $9,000. Used factory labor for Cutting $33,100 and Assembly $27.000. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,750. Transferred goods costing $67,700 from the Cutting Department to the Assembly Department. Transferred goods costing $135,000 from Assembly to Finished Goods. Sold goods costing $151,000 for $201,000 on account. 6. 7. 8. 9. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit Raw Materials Inventory 1. 62800 Accounts Payable 62800 2. Factory Labor 60100 Wages Payable 60100 3. Manufacturing Overhead 71000 Cash 71000 Accounts Payable 4. Work in Process Cutting Work in Process Assembly Raw Materials Inventory Work in Process Cutting 5. Work in Process. Assembly Factory Labor 6. Work in Process - Assembly Work in Process - Cutting Manufacturing Overhead 7. Work in Process - Assembly Work in Process - Cutting 8. 9. Finished Goods Inventory Work in Process. Assembly Cost of Goods Sold Finished Goods Inventory (To record the cost of goods sold) Accounts Receivable Sales Revenue (To record the sale)