1. Purchased raw materials on account $49,400.
2. Raw Materials of $41,300 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,000 was classified as indirect materials.
3. Factory labor costs incurred were $65,200.
4. Time tickets indicated that $54,600 was direct labor and $10,600 was indirect labor.
5. Manufacturing overhead costs incurred on account were $84,900.
6. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
7. Goods costing $96,300 were completed and transferred to finished goods.
8. Finished goods costing $80,700 to manufacture were sold.
Required:
Record the transactions.
Answers: 3
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1. Purchased raw materials on account $49,400.
2. Raw Materials of $41,300 were requisitioned to th...
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