Reference no: EM131762932

Problem -

Purchased $50,000 of raw materials on account

Incurred $45,000 of factory labor. (Credit factory wages payable)

Incurred $60,000 of manufactoring overhead on credit.

Requisitioned materials for cutting $20,000 and assembly $8,000

Used factory labor for Cutting $35,000 and Assembly$25,000

Applied overhead at the rate of $15 per machine hour. Machine hours were Cutting 2,000 and Assembly 2,200.

Transferred goods costing $50,600 from the Cutting Department to the Assembly Department.

Transferred goods costing $120,000 from Assembly to finished goods.

Sold goods costing $140,000 for $170,000 on account.

Required - Journalize the above transactions.