Exercise 14-7 Your answer is partially correct. Try again. Vaughn Corporation incurred the following transactions. Purchased raw materials on account $53,600. Raw Materials of $44,800 were requisitioned to the factory. An analysis of the materiaEs requisition slips indicated that $9,600 was classified as indirect materials. Factory labor costs incurred were $66,300. Time tickets indicated that $55,200 was direct labor and $11,100 was indirect labor. Manufacturing Net-head costs incurred on account were $85,200. Manufacturing overhead was applied at the rate of 150% of direct labor cost. Goods costing $98,400 were completed and transferred to finished goods. Finished goods costing $82,700 to manufacture were sold. Record the transactions. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).)