The following transactions occurred in January at Apex Manufacturing, a custom parts supplier Apex uses job costing 1. Purchased $54,200 in materials on account 2. Issued $2,000 in supplies from the materials inventory to the production department 3. Paid for the materials purchased in transaction (1) 4 Issued $26.000 in direct materials to the production department 5. Incurred wage costs of $47000, which were debited to Payroll a temporary account of this amount $14.000 was withheld for payroll taxes and credited to Payroll Taxes Payable. The remaining $33,000 was paid in cash to the employees. See transactions (6) and (7) for additional information about Payroll 6 Recognized $26.000 in fringe benefit costs, incurred as a result of the wages paid in (5). This $26,000 was debited to Payroll and 7 Analyzed the Payroll account and determined that 70 percent represented direct labor, 20 percent, indirect manufacturing labor and 10 percent, administrative and marketing costs 8 Paid for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant totaling $32.900. 9. Applied overhead on the basis of 150 percent of direct labor costs 10. Recognized depreciation of 517750 on manufacturing property, plant and equipment Required: . Prepare journal entries to record these transactions b. The balances that appeared in the accounts of Apex Manufacturing are shown as follows Ending Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning $56,325 13,125 62,750 $ 50,800 101,275 Prepare T-accounts to show the flow of costs during the period. Answer is not com Complete this question by entering your answers in the tabs below. Dnan Return to questi Materials luventory Beg Bal Beg Bal 56,3252 54 2004 Workio Process Imuritory 2,000 13,125 26.000 26000 3 Goods Completed 51,100 76,6503 End Bal 110,525 End. Bat 138,875 Manufacturing Overhead Control Applied Manufacturing Overhead Beg Bal Beg Bal End Bal End Bal Accounts Payable Cash Real Payroll Payrollares Payalla Beg Bal Beg Bal End, Bal End Bal Fringe Benefits Payable Administrative and Marketing Costs Beg Bal Beg Bal End Bal End Ball Accumulated Depreciation Property. Plant, and Equipment Beg Bal Finished Goods Bey Bal Goods Completed End 31 End Bal Cost of Goods Sold Beg. Bal Goods Sold End. Bal