Waterway Corporation incurred the following transactions. 1. Purchased raw materials on account $50.600. 2. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $9,500 was classified as indirect materials. 3. Factory labor costs incurred were $65,500. 4. Time tickets indicated that $54,400 was direct labor and $11,100 was indirect labor. 5. Manufacturing overhead costs incurred on account were $83,100. 6. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 7. Goods costing $92,700 were completed and transferred to finished goods. 8. Finished goods costing $81,800 to manufacture were sold. Manufacturing Costs Factory Labor Manufacturing Overhead Work in Process In Finished Goods Inventory s