The following transactions occurred in April at Steve's Cabinets, a custom cabinet firm: 1. Purchased $23,000 of materials on account 2. Issued $1,500 of upplies from the m e inventory. 3. Purchased $12,600 of materials on account. 4. Paid for the materials purchased in transaction (1) using cash. 5. Issued $15,000 in direct materials to the production department 6. Incurred direct labor costs of $27,000, which were credited to Wages Payable. 7. Paid $22,600 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. 8. Applied overhead on the basis of 120 percent of $27,000 direct labor costs 9. Recognized depreciation on manufacturing property, plant, and equipment of $11,400. The following balances appeared in the accounts of Steve's Cabinets for April: Beginning $31,740 8,000 34.600 Ending ? Materials Inventory Work-in-Process Inventory ! $29 entory Cost of Goods Sold LC 54.780 Required: a. Prepare journal entries to record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Prepare jounal entries to record the transactions. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Purchased $23,000 of materials. Note: Enter debits before credits. Transactions General Journal Debit Credit View general journal Record entry Clear entry b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold. Materials Inventory Work-In-Process Inventory Beg. bal Beg. bal Finished Goods End, bal. 0 End. bal Manufacturing Overhead Control Applied Manufacturing Overhead Beg. bal Beg. bal End. bal End. bal 0 Accounts Payable Cash Beg. bal Beg. bal 0 End. bal. End. bal. Accumulated Depreciation- Property, Plant, and Equipment Wages Payable Beg. bal Beg. bal Accumulated Depreciation- Property, Plant, and Equipment Wages Payable Beg. bal Beg. bal End. bal End, bal. Finished Goods Inventory Cost of Goods Sold Beg. bal |Beg. bal. Transfer to Cost of Goods Sold Finished Goods Goods completed Inventory End. bal End, bal