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.