Sunset Products manufactures skateboards. The following transactions occurred in March. 1. Purchased $21,500 of materials on account 2. Issued $1150 of supplies from the materials inventory. 3. Purchased $25,300 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $30,300 in direct materials to the production department. 6. Incurred direct labor costs of $26,500, which were credited to Wages Payable. 7. Paid $21,800 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop 8. Applied overhead on the basis of 120 percent of direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $5,300. The following balances appeared in the accounts of Sunset Products for March. Beginning Ending Materials Inventory $ 9,450 Work-in-Process Inventory 16,800 Finished Goods Inventory 65,300 $36,800 Cost of Goods sold 73,300 ? 2 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