Waterway Corporation incurred the following transactions Purchased raw materials on account $51,000. 1. Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,800 was classified as 2. indirect materials Factory labor costs incurred were $66,200. 3. Time tickets indicated that $55,000 was direct labor and $11,200 was indirect labor. 4. Manufacturing overhead costs incurred on account were $81,600. 5. Manufacturing overhead was applied at the rate of 160% of direct labor cost. 6. Goods costing $89,400 were completed and transferred to finished goods. 7. Finished goods costing $84,400 to manufacture were sold. 8. Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Manufacturing Costs Raw Materials Inventory Work in Process Inventory Factory Labor Manufacturing Overhead Purchased raw materials $ 1. $ $ 2 Direct materials 2. Indirect materials Incurred factory labor 3. 4. Direct labor 4. Indirect labor Overhead costs incurred 5. 6. Assigned overhead 7. Completed goods 8. Goods sold +A A Current Attempt in Progress Waterway Corporation incurred the following transactions. Purchased raw materials on account $51,000. 1 2Raw Materials of $42,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,800 was classified as indirect materials Factory labor costs incurred were $66,200 3. Time tickets indicated that $55,000 was direct labor and $11,200 was indirect labor. 4. Manufacturing overhead costs incurred on account were $81,600. 5 Manufacturing overhead was applied at the rate of 160 % of direct labor cost. 6 Goods costing $89,400 were completed and transferred to finished goods. 7. 8 Finished goods costing $84,400 to manufacture were sold. Record the transactions. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) Manufacturing Costs Finished Goods Inventory Factory Labor Manufacturing Overhead Work in Process Inventory Cost of Goods Sold eTextbook and Media