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Vaughn Corporation incurred the following transactions 1. 2. 3 4. 5. 6. 7. 8. Purchased raw materials on account $53,000 Raw Materials of $45.200 were

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Vaughn Corporation incurred the following transactions 1. 2. 3 4. 5. 6. 7. 8. Purchased raw materials on account $53,000 Raw Materials of $45.200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9.400 was classified as indirect materials. Factory labor costs incurred were $65,400. Time tickets indicated that $55,000 was direct labor and $10,400 was indirect labor. Manufacturing overhead costs incurred on account were $81,700. Manufacturing overhead was applied at the rate of 160% of direct labor cost. Goods costing $89.400 were completed and transferred to finished goods. Finished goods costing $76,000 to manufacture were sold Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45).) Manufacturing Costs Raw Materials Inventory Factory Labor Manufacturing Overhead 1. Purchased raw materials $ $ s 2. Direct materials 2. Indirect materials 3. Incurred factory labor 4. Direct labor 4. Indirect labor 5. Overhead costs incurred 6. Assigned overhead 7. Completed goods 8. Goods sold

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