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The management team of Novak Transport, an equipment-assembly company, is evaluating its irventory costs for the current year. One of its goals is to end the year with less imventory on hand than it had at the beginning of the year, recognizing there aremany costs assodated with holding inventory (this goal represents the start of the company's journey into lean manufacturing. where it is working to eliminate unnecessary process steps and costs on many levels). Its normal job costing system uses machine hours as its allocation base. For the current year, it budgeted $7,680 for all of its MOH costs, expecting to use 3,200 machine hours throughout the year. The following data pertain to operations for this year (beginning inventory balances are presented in the below T-accounts). (a) Recreate the following T-accounts and then show the effects of the above events and costs in the inventory accounts, COGS, and MOH Control account Calculate ending balances for these accounts after recognizing the sale of goods. (Post entries in the order displayed in the problem statement) NozuanuI9s The management team of Novak Transport, an equipment-assembly company, is evaluating its irventory costs for the current year. One of its goals is to end the year with less imventory on hand than it had at the beginning of the year, recognizing there aremany costs assodated with holding inventory (this goal represents the start of the company's journey into lean manufacturing. where it is working to eliminate unnecessary process steps and costs on many levels). Its normal job costing system uses machine hours as its allocation base. For the current year, it budgeted $7,680 for all of its MOH costs, expecting to use 3,200 machine hours throughout the year. The following data pertain to operations for this year (beginning inventory balances are presented in the below T-accounts). (a) Recreate the following T-accounts and then show the effects of the above events and costs in the inventory accounts, COGS, and MOH Control account Calculate ending balances for these accounts after recognizing the sale of goods. (Post entries in the order displayed in the problem statement) NozuanuI9s