View Policies Current Attempt in Progress Cullumber Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,452, Work in Process-Cutting $3,074, Work in Process-Assembly $11,236, and Finished Goods $32,860. During July, the following transactions occurred. 1. Purchased $66,250 of raw materials on account. 2. Incurred $63,600 of factory labor. (Credit Wages Payable.) 3. Incurred $74,200 of manufacturing overhead; $42,400 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $16,642 and Assembly $9,434. 5. Used factory labor for Cutting $34,980 and Assembly $28,620. 6. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,786 and Assembly 1,818. 7. Transferred goods costing $71,656 from the Cutting Department to the Assembly Department. 8. Completed and transferred goods costing $142,994 from Assembly to Finished Goods Inventory. 9. Sold goods costing $159,000 for $212,000 on account.