Forest Components makes aircraft parts. The following transactions occurred in July. 1. Purchased $16,900 of materials on account. 2. Issued $16,810 in direct materials to the production department. 3. Issued $1,370 of supplies from the materials inventory. 4. Paid for the materials purchased in transaction (1) using cash. 5. Returned $2,050 of the materials issued to production in (2) to the materials inventory. 6. Direct labor employees earned $32,100, which was paid in cash. 7. Purchased miscellaneous items for the manufacturing plant for $17,260 on account. 8. Recognized depreciation on manufacturing plant of $35,500. 9. Applied manufacturing overhead for the month. Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annual, predetermined rate. At the beginning of the year, management estimated that direct labor costs for the year would be $435,400. Estimated overhead for the year was $413,630. The following balances appeared in the inventory accounts of Forest Components for July. Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning Ending ? $12,440 ? 10,570 $2,790 7,070 ? 75,200 Required: A B C D E F G H > Purchased $16,900 of materials on account. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Issued $16,810 in direct materials to the production department. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Issued $1,370 of supplies from the materials inventory. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Paid for the materials purchased in transaction (1) using cash. Note: Enter debits before credits. Transaction 4 General Journal Debit Credit Returned $2,050 of the materials issued to production in (2) to the materials inventory. Note: Enter debits before credits. Transaction 5 General Journal Debit Credit Direct labor employees earned $32,100, which was paid in cash. Note: Enter debits before credits. Transaction 6 General Journal Debit Credit Purchased miscellaneous items for the manufacturing plant for $17,260 on account. Note: Enter debits before credits. Transaction 7 General Journal Debit Credit Recognized depreciation on manufacturing plant of $35,500. Note: Enter debits before credits. Transaction 8 General Journal Debit Credit Applied manufacturing overhead for the month. Note: Enter debits before credits. Transaction 9 General Journal Debit Credit Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Beg. bal. End. bal. Materials Inventory Beg. bal. End. bal. Work-In-Process Inventory Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal. Beg. bal. End. bal. End. bal. Transferred to Finished Goods Accounts Payable Cash Beg. bal. Beg. bal. End. bal. Accumulated Depreciation-Property, Plant, and Equipment Beg. bal. End. bal. Beg. bal. Goods completed End. bal. Cost of Goods Sold End. bal. Beg. bal. Goods completed End. bal. Finished Goods Inventory Transfer to Cost of Goods Sold