xercise 20-07 Sunland Corporation incurred the following transactions 1. Purchased raw materials on account $46,800. 2. Raw Materials of $40,900 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,600 was classifled as indirect materials. 3. Factory labor costs incurred were $63,800, of which $51,500 pertained to factory wages payable and $12,300 pertained to employer payroll taxes payable. 4. Time tickets indicated that $54,300 was direct labor and $9,500 was indirect labor. 5 Manufacturing overhead costs Incurred on account were $82,300. 6. Depreciation on the company's office building was $8,600 7, Manufacturing overhead was applied at the rate of 150% of direct labor cost. 8. Goods costing $93,700 were completed and transferred to finished goods. 9 Finished goods costing $78,000 to manufacture were sold on account for $111,300 ournalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually)