Forest Components makes aircraft parts. The following transactions occurred in July.

1. Purchased $16,860 of materials on account.

2. Issued $16,720 in direct materials to the production department.

3. Issued $1,310 of supplies from the materials inventory.

4. Paid for the materials purchased in transaction (1) using cash.

5. Returned $2,170 of the materials issued to production in (2) to the materials inventory.

6. Direct labor employees earned $31,300, which was paid in cash.

7. Purchased miscellaneous items for the manufacturing plant for $17,390 on account.

8. Recognized depreciation on manufacturing plant of $36,400.

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 $435,800. Estimated overhead for the year was $414,010.

The following balances appeared in the inventory accounts of Forest Components for July.

	Beginning			Ending
Materials Inventory		?		$	12,410
Work-in-Process Inventory		?			10,680
Finished Goods Inventory	$	2,660			7,040
Cost of Goods Sold		?			75,100

Required:

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.	?	0			Beg. bal.	?	0
1.	16,860	16,720	2.		2.	16,720	2,170	5.
5.	2,170	1,310	3.		6.	31,300	?	Transferred to Finished Goods
	0	0			9.	29,735	0
End. bal.	1,000					0	0
					End. bal.	75,585
Manufacturing Overhead Control					Applied Manufacturing Overhead
Beg. bal.	0	0			Beg. bal.	0	?
3.	1,310	0				0	29,735	9.
7.	17,390	0				0	0
8.	36,400	0			End. bal.		29,735
	0	0
End. bal.	55,100
Accounts Payable					Cash
Beg. bal.	0	0			Beg. bal.	0	0
4.	16,860	16,860	1.			0	16,860	4.
	0	17,390	7.			0	31,300	6.
	0	0				0	0
End. bal.		17,390			End. bal.		48,160
Accumulated DepreciationProperty, Plant, and Equipment					Finished Goods Inventory
Beg. bal.	0	0			Beg. bal.	2,660	0
	0	36,400	8.		Goods completed	?	75,100	Transfer to Cost of Goods Sold
	0	0			End. bal.		72,440
End. bal.		36,400
Cost of Goods Sold
Beg. bal.	0	0
Goods completed	75,100	0
End. bal.	75,100