Journalize the transactions

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Question - Torre Corporation incurred the following transactions.

1. Purchased raw materials on account $45,720.

2. Raw Materials of $35,220 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $7,070 was classified as indirect materials.

3. Factory labor costs incurred were $53,120, of which $50,230 pertained to factory wages payable and $2,890 pertained to employer payroll taxes payable.

4. Time tickets indicated that $47,390 was direct labor and $5,730 was indirect labor.

5. Manufacturing overhead costs incurred on account were $80,890.

6. Depreciation on the company's office building was $7,500.

7. Manufacturing overhead was applied at the rate of 150% of direct labor cost.

8. Goods costing $88,400 were completed and transferred to finished goods.

9. Finished goods (a) costing $75,910 to manufacture were (b) sold on account for $102,130.

Journalize the transactions.

Reference no: EM132049803

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