Greivell Manufacturing Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $3,800, Work in Process-Cutting $2,780, Work in Process-Assembly $10,530, and Finished Goods $31,340. During July, the following transactions occurred.
- Purchased $61,050 of raw materials on account.
- Incurred $55,370 of factory labor.
- Incurred $69,020 of manufacturing overhead; $40,740 was paid and the remainder is unpaid.
- Requisitioned materials for Cutting $15,160 and Assembly $9,320.
- Used factory labor for Cutting $30,270 and Assembly $25,100.
- Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,500 and Assembly 1,800.
- Transferred goods costing $66,800 from the Cutting Department to the Assembly Department.
- Transferred goods costing $134,460 from Assembly to Finished Goods.
- Sold goods costing $149,670 for $200,240 on account.
- Journalize the transactions.