U B education.wiley.com NWP Assessment Player UI Application 0 01:03:59 Question 2 of3 / 6 ;= View Policies Current Attempt in Progress Cullumber Corporation had the following transactions during its rst month of operations: 1. Purchased raw materials on account, $71,400. 2. Raw materials of $25,200 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $5,040 was classied as indirect materials. 3. Factory labor costs incurred were $147,000 ofwhich $121,800 pertained to factory wages payable and $25,200 pertained to employer payroll taxes payable. 4. Time tickets indicated that $121,800 was direct labor and $25,200 was indirect labor. 5. Overhead costs incurred on account were $166,320. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7, Goods costing $96,600 are still incomplete at the end of the month; the other goods were completed and transferred to finished Goods Inventory. 8. Finished Goods Inventory with a cost of $84,000 was sold on account for $109,200. Journalize the above transactions for Cullumber Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Account Titles and Explanation Debit Credit - 163 ... No. Account Titles and Explanation Debit Credit 1 2. 3. 4. 5. - 16 ... 5. 6. 7. 8. (To record sales.) (To record cost of goods sold.) - 165 ... List of Accounts Assistance Used Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Cash Cost of Completed Service Contracts Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labor Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating OverheadI] educationmileycom ll] + E] w NWP Assessment Player Ul Application , c i; , p Di'l'i'E' ACCT 202 Spring 2023 Mid-Term Exam #1 G 01 :03 : 39 Question 2 of3 _ / 6 E Manufacturing Overhead Operating Overhead Payroll Liabilities Prepaid Insurance Prepaid Property Taxes PropertyTax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Work in Process Inventory 0 Save for Later Attempts: 0 of 1 used Submit