- Nov. 1726 - 11/28 Saved Help Save & Exit Sub The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm. 1. Purchased $19,000 of materials on account 2. Issued $1,100 of supplies from the materials inventory 3. Purchased $11.800 of materials on account 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $14,200 in direct materials to the production department 6. Incurred direct labor costs of $23,000, which were credited to Wages Payable. 7. Paid $21,800 cash for utilities, power, equipment maintenance, and other miscellaneous Items for the manufacturing plant 8. Applied overhead on the basis of 125 percent of $23,000 direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $10,600, The following balances appeared in the accounts of Steve's Cabinets for April Materials Inventory work-in-rocons Inventory Tinished Goods Inventory Cost of Goods Sold Deginning tinding $30.540 2 7,200 7 33,800 $28,940 53,500 Required: a. Prepare journal entries to record the transactions b. Prepare T-accounts to show the flow of costs during the period from Materials inventory through cost of Goods Sold Complete this question by entering your answers in the tabs below. Required A Required Prepare T-accounts to show the flow of costs during the period from Materials Inventory through cost of Goods Sold Materials inventory Beg, bat 30,540 Begal 19.000 11100 1.1002 142005 Work in Process inventory 7200 1.100 Finished Good 14.200 28.750 End. 46.040 23.000 Endi bor 74.205 Manufacturing Overhead Control Beg bal Applied Manufacturing Overhead Beba End O End ta Accounts Payable Best Cashi Detal Manufacturing Overhead Control Applied Manufacturing Overhead Beg bat Beg. bal End, bal End, bal Accounts Payable Cash Beg, bal Bog, bal 4 19,000 19,000 11,800 3 End, bal 11,800 End bal. Wages Payable Accumulated Depreciation Property, Plant, and Equipme Bog, bal Bog bal End, bu End, bal Finished Goods Inventory Cost of Goods Sold Bogbal Good completed Transfer to Cost of Goods Sold Beg, bal Finished Goods Inventory End, bal End, bal 0