Elmira fool and Die makes machine tools to order. The following transoctions occurred in October; 1. Issued $4,300 of supplies from the matenals inventory 2. Purchased $49,500 of materials. 3 Issued $45100 in direct materials to the production department 4. Paid \$45,300 for miscettaneous items for the manufocturing plant. Accounts Payable was credited 5. Refurned $8,400 of the moterials issued to production in (3) to the moterials inventory. 6. Direct labor employees earned $79,500,50% of which was paid in cash and the remainder ciedited to Wages Payable 7. Purchased $19,500 of materiais on accourt. 8. Pecognized depreciation on manufacturing piant of $93,500 9. Paid for the matenals purchased in transaction (2) 10 Applied manufacturing ovesheod for the month. Elmire uses normat costing ft apples overhead on the basis of materials costs using an annual, predetermined rate. At the beginning of the year, management estimated that materials costs for the year would be $530,000. Estimated overhead for the year was $2173000 The fotfowing balances appeared in the inventory accounts of Elmira Ioot and Die for October Required: a. Prepare fournal entres to record these trarsactions b. Prepare faccounts to show the flow of costs during the period from Matenals inventory through Cost of Goods Sold