Please help me fill out the blanks. Schrager Company has two production departme

Question

Please help me fill out the blanks.

Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $ 5,100, Work in Process—Cutting $3,600, Work in Process—Assembly $ 11,200, and Finished Goods $ 32,900. During July, the following transactions occurred.

1.

2.

3.

4.

5.

6.

7.

8.

9.

Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

1.

Purchased $ 62,700 of raw materials on account.

2.

Incurred $ 61,400 of factory labor. (Credit Wages Payable.)

3.

Incurred $ 71,600 of manufacturing overhead; $ 41,700 was paid and the remainder is unpaid.

4.

Requisitioned materials for Cutting $ 17,400 and Assembly $ 9,900.

5.

Used factory labor for Cutting $ 34,300 and Assembly $ 27,100.

6.

Applied overhead at the rate of $ 20 per machine hour. Machine hours were Cutting  1,710 and Assembly  1,750.

7.

Transferred goods costing $ 68,950 from the Cutting Department to the Assembly Department.

8.

Transferred goods costing $ 135,400 from Assembly to Finished Goods.

9.

Sold goods costing $ 152,700 for $ 201,500 on account. Ci Seoure! https://cypresscoleçe.instructure.com/courses/673/2ssiqnments/27278 Schrzger Cnmpany has two prnduc tinn drpartments: Cutting and Assembly. July 1 inventoriesare Raw Materials $ 5.100. W rkin ProcesCutting 3.600, Wurk in Proces Asbly 5 11.200, ad Finishet Gouds S 32.900. During July. Lhe fulluwing Lrarisatiuns ULLurre Grades PUTthased 5 62,700 f aw malerials on accoount 2. Incurred $61.100of factory labor. (Credit Wages Paysble) 3. Incurred$ 71,600 of manufacturing overhead: $41,700was paid and the remainder is unpaid 4. Roquisitioned materials for Cutting 17,400 and Asscmbly $ 9,900. S, factory labar for Cutting $ 34.300 andsmbly $27,100. Applied uveread a the rale uf $20 per achine hour.Machine hours wer Cuiting 1,710mbly 1.750 7. Transferred goods costing 568,950 from the Cutting Department to the Assembly Department. B. Transferred poods costing135,400 from Assemblyto Finished Goods. Sold goods costing 152,700 for $201,500 on account aurnalize the transactions. (Credit account tities are automatically indented when amount is entered. Do not indent manuaily No. Account Titles and Explanation 1. Debit Credit 2. 3, 4. O lype hene to search

Explanation / Answer

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. No Accounts Debit Credit 1 Raw Material Inventory $62,700 Accounts Payable $62,700 2 Factory Labor $61,400 Wages Payable $61,400 3 Manufacturing Overhead $71,600 Cash $41,700 Accounts Payable $29,900 4 Work in Process-Cutting $17,400 Work in Process-Assembly $9,900 Raw Material Inventory $27,300 5 Work in Process-Cutting $34,300 Work in Process-Assembly $27,100 Factory Labor $61,400 6 Work in Process-Cutting 1710*20 $34,200 Work in Process-Assembly 1750*20 $35,000 Manufacturing Overhead $69,200 7 Work in Process-Assembly $68,950 Work in Process-Cutting $68,950 8 Finished Goods Inventory $135,400 Work in Process-Assembly $135,400 9 Cost of Goods Sold $152,700 Finished Goods Inventory $152,700 (to record the cost of goods sold) Accounts Receivable $201,500 Sale $201,500 (to record the sale)

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