HECTOR Company had the following account balances as of August 1, 2021: Raw Material (direct and indirect) Inventory $25,300 Work in Process Inventory 9,000 Finished Goods Inventory 20,000 During August, the company incurred the following factory costs: 1. Purchased $200,000 of raw material on account. 2. Issued $185,000 of raw material to production, of which $134,000 was for direct materials. 3. Accrued $98,000 in factory payroll costs; $62,000 was for direct labor and the rest was for supervisors' salaries. 4. Accrued $10,000 of utility costs; of this amount, $2,600 was fixed. 5. Accrued $5,000 of property taxes on the factory. 6. Recorded the expiration of $2,600 of prepaid insurance on factory equipment. 7. Recorded $45,000 of straight-line depreciation on factory equipment. 7. Recorded $45,000 of straight-line depreciation on factory equipment. 8. Applied actual overhead to Work in Process Inventory. 9. Transferred goods costing $310,000 to Finished Goods Inventory. 10. Recorded total sales of $750,000; of these, $500,000 were on account. 11. Recorded cost of goods sold of $330,000. 12. Recorded selling and administrative costs of $280,000 (credit "Various accounts"). Required: a. Journalize the transactions for August. (2.5 marks) b. Post transactions to T-accounts for Raw Material Inventory, Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold. (2.5 marks) of cost c. Prepare a schedule of cost of goods manufactured for August using actual costing. (2.5 marks) d. Prepare an income statement, including a detailed schedule of cost of goods sold. (2.5 marks)