1. Purchased $29,500 of materials on account. 2. Issued $1,950 of supplies from the materials inventory 3. Purchased $26,900 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $31,900 in direct materials to the production department 6. Incurred direct labor costs of $34,500, which were credited to Wages Payable. 7. Paid $23,400 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop. 8. Applied overhead on the basis of 110 percent of direct labor costs 9. Recognized depreciation on manufacturing property, plant, and equipment of $6,900. The following balances appeared in the accounts of Sunset Products for March Materials Inventory Work in Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning Ending $11,850 18,400 2 66, 900 $38, 400 74.900 Required: a. Prepare journal entries to record the transactions b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through cost of Goods Sold No Transaction General Journal Debit Credit 1 29,500 Materials inventory Accounts payable 29,500 B 2 1,950 Manufacturing overhead control Materials inventory 1,950 3 26,900 Materials inventory Accounts payable 26,900 D 4 Accounts payable 29,500 Cash 29,500 E 5 5 31,900 Work-in-process-direct materials Materials inventory 31.900 F 6 34,500 Work-in-process-overhead Wages payable 34,500 G 7 23,400 Manufacturing overhead control Cash > 23,400 H 8 37,950 Work-in-process-overhead Applied manufacturing overhead 37.950 9 6.900 Manufacturing overhead control Accumulated depreciation-property, plant and equipment 6.900 Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare T-accounts to show the flow of costs during the period from Materials Inventory through cost of Goods Sold. Bog, bal 1 Materials Inventory 11,850 29,500 1.9502 26.900 31.900 5 Beg bal 5 00 Work-In-Process Inventory 18.400 31,900 46,400 Finished Goods 34,500 37.950 3 6 8 End bal 34.400 End bal 76,350 Next Manufacturing Overhead Control Beg, bal 2. 7 Beg bal 8 Applied Manufacturing Overhead 37.950 37.950 x 1,950 23.400 6.900 OO 9 End, bal $ 0 End, bal. 32.250 Accounts Payable Cash Beg bal Beg bal 34,500 6 29,500 26,900 1 3 End, bal 34,500 End bal 56,400 Wages Payable Beg bal Accumulated Depreciation-Property. Plant, and Equipment Beg bal 6.9009 34 500 6 End bal 34 500 End, bal 56,400 Wages Payable Beg bal Accumulated Depreciation --Property, Plant, and Equipment Beg bal 6.900 9 34,500 6. End, bal 34 500 End, bal 6.900 Cost of Goods Sold Finished Goods Inventory 66.900 Beg bal Goods completed 46.400 74.900 Transfer to Cost of Goods Sold Beg bal Finished Goods Inventory End bal 74.900 End, bal 38.400 74,900