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Schrager Company has two production departments. Cutting and Assembly, July 1 inventories are Raw Materials $4,300, Work in Process-Cutting $3,700, Work in Process-Assembly $11,000, and Finished Goods $ 33,000. During July, the following transactions occurred. 1. 2 3. 4. 5. Purchased $ 64,000 of raw materials on account. Incurred $61,100 of factory labor. (Credit Wages Payable) Incurred $ 73,000 of manufacturing overhead, $ 42200 was paid and the remainder is unpaid. Requisitioned materials for Cutting $ 15,900 and Assembly $ 9,000. Used factory labor for Cutting $33,500 and Assembly $ 27,600. Applied overhead at the rate of $ 21 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,780. Transferred goods costing $ 69,160 from the Cutting Department to the Assembly Department Transferred goods costing $ 136,600 from Assembly to Finished Goods Sold goods costing $152,400 for $ 202,200 on account 6. 7. 8. 9. Joumalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Cash 42200 Accounts payable 30800 4. Work In Process - Assembly 15900 Work in Process - Cutting 9000 Raw Materials Inventory 24900 5. Work in Process - Assembly 33500 Work in Process - Cutting 27600 61100 Factory Labor 6. Work in Process - Assembly 37380 Work in Process Cutting 61100 Factory Labor Work in Process Assembly 37380 Work in Process-Otting 72870 Manufacturing Overhead 69160 7. Work in Process - Assembly 69160 Work in Process - Cooking 136600 8. Finished Goods Inventory 136600 Work in Process - Assembly 202000 Cost of Goods Sold 202000 Finished Goods Inventory (To record the cost of goods sold) 152400 Accounts Receivable 152400 Sales Revenue

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