Sunset Products manufactures skateboards. The following transactions occurred in March: 1. Purchased $30,000 of materials on account 2 Issued $1,500 of supplies from the materials inventory. 3. Purchased $37,500 of materials on account 4. Paid for the materials pur 5. Issued $45,000 in direct materials to the 6. Incurred direct labor costs of $37,500, which were credited to Wages Payable 7. Paid $42.250 cash for utilities, power, equipment 8 Applied overhead on the basis ot 140 percent of direct labor costs 9. Recognized depreciation on manufacturing property. plant, and equipment of $7.500 in transaction (1) using cash n department maintenance, and other miscellaneous tems for the manufacturing shop The following balances appeared in the accounts of Sunset Products for March 24,750 Inventory 97.500 $ 54.750 300 575 Cost of Goods Sold 120.000 Required a. Prepare journal entries to record the transactions (If no entry is required tor a transactionievent, select No journal entry required" in the first account field e Type here to search