The Accounting Company had the following activities take place during the month of March 2020. a) Purchased production materials on account for $68,500. b) Raw materials were used in production, $58.400 direct (35% to Job #34; 65% to Job #37) and $18,890 indirect. c) Factory electric and water expenses incurred, $5,450. d) Salaries and wages costs incurred totalled $129,550 and included: Direct labor cost $ 74,600 (Job #34 - $43,200; Job #37 - $31,400) Indirect labor cost 42,530 Sales salaries 12,420 e) Factory equipment depreciation expense, $16,220. f) Manufacturing overhead is applied at a predetermined rate of 111% of direct labor cost. g) Completed Job #34. h) Shipped Job #34 i) Billed customer $192,350 on account. j) Shipping costs incurred to send product to customer, $1,950. k) Dispose of over- or under-applied factory overhead. REQUIRED: Record the transactions in the t-accounts below. Use the letters to key your entries. Finished Goods Materials Inventory beg. 8,200 Work-in-Process 12,000 beg. Manufacturing Overhead Accounts Payable Cost of Goods Sold Selling Expense Accum. Deprec.-Equip. Wages/Salaries Payable Sales Salaries Expense JOB COST SHEET Job #34 beg. 12,000 JOB COST SHEET Job #37 Accounts Receivable Sales Revenue