https/Jedugen.wieyphs.com/edagen/studert/enaindr Kimmel, Accounting, Ge ING (ACCI2101, 2102, 51 Exercise 16-4 Schrager Company has two peoduction departments: Cutting and Asseembly, July 1 inen torles are Raw Matrials $4,400, ork in ProcessCutting 3,300, Wk in Process Assembly $10,800, and Finished Goods $32,000. During buly. the following tramsadtions occunred 1. Purchased $63,700 of raw materials on account 2 Incurred $60,200 of factory labar. (Credt Wages Payable.) 3. Incurred $71,100 of manufacturing overhead; $41,700 was pald and the remainder is 4. Requisitioned materials for Cutting $15,900 and Assembly $9,600 s. Used factory labor for Cutting $33,8o0 and Assembly $26,900 e unpaild 6.Applied overhead at the rate of $20 per machine hour. Machine hours were Cutting 1,700 and Cutting Department to the Assembly Department 7, Transferred goods costing $69,0no from the 8. Transferred goods costing $135,500 from Assembly to Finished Geods 9. Sold goods costing $151,900 for $201,400 on account Sournalize the transactions. (Credit account titles ave automatically indented when amount is entered. Do not indent manually No. Account Titles and Explanation 8 5 6