A selected list of accounts used by Cline Manufacturing Company follows: Code Code A. Cash F Accounts Payable B. Accounts Receivable G Factory Labor C. Raw Materials Inventory H Manufacturing Overhead D. Work In Process Inventory Cost of Goods Sold E. Finished Goods Inventory JSales Revenue Cline Manufacturing Company uses a job order system and maintains perpetual inventory records. Instructions Place the appropriate code letter in the columns indicating the appropriate account(s) to be debited and credited for the transactions listed below. Account(s) Account(s)Transactions Debited Credited1. Raw materials were purchased on account.2. Issued a check to Dixon Machine Shop for repair work on factory equipment.3. Direct materials were requisitioned for Job 280.4. Factory labor was paid as incurred.5. Recognized direct labor and indirect labor used.6. The production department requisitioned indirect materials for use in the factory.7. Overhead was applied to production based on a predetermined overhead rate of $8 per labor hour.8. Goods that were completed were transferred to finished goods.9. Goods costing $80,000 were sold for $105,000 on account.10. Paid for raw materials purchased previously on account

1. Raw materials were purchased on account.

Account to be Debited: Raw Materials Inventory

Account to be Credited: Accounts Payable

2. Issued a check to Dixon Machine Shop for repair work on factory equipment.

Account to be Debited:  Manufacturing Overhead

Account to be Credited: Cash

3. Direct materials were requisitioned for Job 280.

Account to be Debited:  Work In Process Inventory Cost of Goods Sold

Account to be Credited:  Raw Materials Inventory

4. Factory labor was paid as incurred.

Account to be Debited: Factory Labor

Account to be Credited: Accounts Payable

5. Recognized direct labor and indirect labor used.

Account to be Debited: Work In Process Inventory Cost of Goods Sold, Manufacturing Overhead

Account to be Credited: Accounts Payable

6. The production department requisitioned indirect materials for use in the factory.

Account to be Debited: Manufacturing Overhead

Account to be Credited: Raw Materials Inventory

7. Overhead was applied to production based on a predetermined overhead rate of $8 per labor hour.

Account to be Debited: Work In Process Inventory Cost of Goods Sold

Account to be Credited: Manufacturing Overhead

8. Goods that were completed were transferred to finished goods.

Account to be Debited: Finished Goods Inventory

Account to be Credited: Work In Process Inventory Cost of Goods Sold

9. Goods costing $80,000 were sold for $105,000 on account.

Account to be Debited: Cost of Goods Sold

Account to be Credited: Finished Goods Inventory

10. Paid for raw materials purchased previously on account

Account to be Debited: Accounts Payable

Account to be Credited: Cash

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