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Super Amazing Company produces a product in two departments: (1) Cutting and (2) Finishing. The company uses a process cost accounting system. (a) Purchased raw materials for $70,000 on account (b) Raw materials requisitioned for production were: (c) Incurred labor costs of $80,000 (d) Factory labor used: (e) Manufacturing overhead is applied to the product based on Machine hours used in each department: Cutting dept. -600 machine hours at $45 per machine hour Finishing Dept - 500 machine hours at \$30 per machine hour (f) Units costing $66,000 were completed in the Cutting Dept. and were transferred to the finishing department (g) Units costing $60,000 were completed in the Finishing Department and were the finishing department (g) Units costing $60,000 were completed in the Finishing Department and were transferred to finished goods (h) Finished goods costing $30,000 were sold on account for $45,000 Instructions Prepare the journal entries to record the preceding transactions for Super Amazing Company