Complete this question by entering your answers in the tabs below. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Wages Payable Accumulated Depreciation- Property, Plant, and Equipment Ervin Equipment, a manufacturer of exercise and workout equipment for sale to Institutions, uses Job costing. The following transactions occurred In January: 1. Purchased $78,500 of materlals. 2. Pald $83,500 cash for utllitles, power, equlpment maintenance, and other miscellaneous items for the manufacturing shop. 3. Issued $5,800 of supplies from the materlals Inventory. 4. Issued $86,500 in direct materlals to the production department. 5. Incurred direct labor costs of $76,500, which were credited to Wages Payable. 6. Pald for the materlals purchased In transaction (1). 7. Incurred $13,900 In Indirect labor costs, which were credited to Wages Payable. 8. Applied overhead on the basis of 155 percent of direct labor costs. 9. Recognized depreclation on manufacturing property, plant, and equipment of $18,000. 10. Returned $1,200 of the materlals In transaction (3) to Inventory. 11. Pald the for the wages incurred in transaction (5). The following balances appeared In the accounts of ErvIn Equipment for January: Requlred: a. Prepare journal entrles to record the transactions. b. Prepare T-accounts to show the flow of costs during the perlod from Materlals Inventory through Cost of Goods Sold