1 Sunset Products manufactures skateboards. The following transactions occurred in March. 15 1. Purchased $30,000 of materials on account. 2. Issued $1,500 of supplies from the materials inventory 3. Purchased $37.500 of materials on account. 4. Pald for the materials purchased in transaction (1) using cash. 5. Issued $45,000 in direct materials to the production department. 6. Incurred direct labor costs of $37,500, which were credited to Wages Payable. 7. Pald $42,250 cash for utilities, power equipment maintenance, and other miscellaneous Items for the manufacturing shop. 8. Applied overhead on the basis of 140 percent of direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $7,500. Book ferences The following balances appeared in the accounts of Sunset Products for March. Materials Inventory Work-in-Process Inventory Tinished Goods Inventory Cost of Goods Sold Beginning riding $13,500 2 24,750 97,500 $ 54,750 120.000 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. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries to record the transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Mc Graw Hill Dr $ Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries to record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet B C D E F G H 1 Purchased $30,000 of materials on account. Note: Enter debits before credits Transactions General Journal Debit Credit Record entry Clear entry View general Journal Prev 1 of 10 Next > arted Firefox in a while Do you want to clean it up for a fresh new experience? And by the way welcome back! gnment soved Saved 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. Materials Inventory Beg bal Work-In-Process Inventory Beg, bal Finished Goods End, bal End. bal Manufacturing Overhead Control Beg bal Applied Manufacturing Overhead Beg, bal End. bal End, bal Accounts Payable Bep. bal Cash Beg bal End, bal End bal Wages Payable Accumulated Depreciation Property, Plant, and Equipment Prev 1 of 10 Next > Fox a while. Do you want to clean it up for a fresh new experience? And by the way welcome back 3