Torre corporation incurred the following transactions. 1.purchased

  

Torre Corporation incurred the following transactions.

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Torre corporation incurred the following transactions. 1.purchased
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1.

Purchased raw materials on account $48,430.

 

2.

Raw Materials of $39,990 were requisitioned to the factory. An analysis   of the materials requisition slips indicated that $8,450 was classified as   indirect materials.

 

3.

Factory labor costs incurred were $63,960, of which $50,440 pertained to   factory wages payable and $13,520 pertained to employer payroll taxes   payable.

 

4.

Time tickets indicated that $51,310 was direct labor and $12,650 was   indirect labor.

 

5.

Manufacturing overhead costs incurred on account were $83,950.

 

6.

Depreciation on the company�s office building was $8,990.

 

7.

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

 

8.

Goods costing $94,640 were completed and transferred to finished goods.

 

9.

Finished goods costing $78,100 to manufacture were sold on account for   $105,360.

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