Wildhorse Company has two production departments Cutting and Assembly, July 1 inventories are Raw Materials S 5460, Work in Process-Cutting $ 3.770, Work in Process-Assembly $ 13,780, and Finished Goods $ 40,300. During July, the following transactions occurred 4. 1 Purchased $81.250 of raw materials on account 2 Incurred $ 78,000 of factory labor. (Credit Wages Payable) 3 Incurred $ 91,000 of manufacturing overhead: $ 52,000 was paid and the remainder is unpaid. Requisitioned materials for Cutting $ 20.410 and Assembly $11.570. Used factory labor for Cutting $ 42,900 and Assembly $ 35,100 & Applied overhead at the rate of $ 18 per machine hour, Machine hours were Cutting 2.194 and Assembly 2.226 Transferred goods costing $ 87,880 from the Cutting Department to the Assembly Department Completed and transferred goods costing $ 175,370 from Assembly to Finished Goods Inventory 9. Sold goods costing $ 195,000 for $ 260,000 on account. 5 7 Journalize the transactions (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually No. Account Titles and Explanation Debit Credit 1 5. 6. 7 9. (To record the cost of goods sold) (To record the cost of goods sold) (To record the sale)