Shapiro Corporation has provided the following data for the most recent month:

Raw materials, beginning balance...	$13,000
Work in process, beginning balance...	$29,000
Finished goods, beginning balance...	$50,000

Transactions:

(1) Raw materials purchases	$64,000
(2) Raw materials used in production (all Direct Materials)	$69,000
(3) Direct Labor	$57,000
(4) Manufacturing Overhead cost incurred	$85,000
(5) Manufacturing Overhead applied	$87,000
(6) Cost of units completed and transferred from Work in process to Finished Goods	$216,000
(7) Any overapplied or underapplied Manufacturing overhead is closed to Cost of goods sold	$ ?
(8) Finished goods are sold	$262,000

Required:

a. Prepare Journal Entries for transactions (1) to (8)

b. Prepare T-accounts for Raw Materials Work in Process, Finished Goods, Manufacturing Overhead, and Cost of Goods Sold. Record the beginning balances and each of the transactions listed above. Finally, determine the ending balances.