1. value: 20.00 points The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm: 1. Purchased $22.500 of materials on account. 2. Issued $1,450 of supplies from the materials inventory. 3. Purchased $12,500 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $14,900 in direct materials to the production department. 6. Incurred direct labor costs of $26.500, which were credited to Wages Payable. 7. Paid $22,500 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 8. Applied overhead on the basis of 130 percent of $26.500 direct labor costs 9. Recognized depreciation on manufacturing property, plant, and equipment of $11,300. The following balances appeared in the accounts of Steve's Cabinets for Aprit Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning $31.590 7.900 34.500 Ending ? ? $29.290 54.630 Required: a. Prepare journal entries to record the transactions. (If no entry is required for a transactionlevent, select "No journal entry required in the first account field.) b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through cost of Goods Sold. Materials Inventory Work-In-Process Inventory Beg. bal. Beg. bal Finished Goods End. bal. End 0 Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal. Beg bal. End, balo Accounts Payable Cash Beg. bal. Beg. bal End, balo End. bal Wages Payable Accumulated Depreciation- Property, Plant, and Equipment Beg bal. Beg. bal. End, bal Endl bal Finished Goods Inventory Cost of Goods Sold Beg. bal. Goods completed Transfer to Cost of Goods Sold Beg. bal Finished Goods Inventory End, bal O Endbal