The following transactions occurred in January at Apex Manufacturing, a custom parts supplier. Apex uses job costing, 1. Purchased $53.800 in materials on account 2. Issued $1,600 in supplies from the materials inventory to the production department 3. Paid for the materials purchased in transaction (1) 4. Issued $25,600 in direct materials to the production department 5. Incurred wage costs of $43.000, which were debited to Payroll, a temporary account of this amount, $13,600 was withheld for payroll taxes and credited to Payroll Taxes Payable. The remaining $29,400 was paid in cash to the employees. See transactions (6) and (7) for additional information about Payroll 6. Recognized $22,000 in fringe benefit costs, incurred as a result of the wages paid in (5). This $22,000 was debited to Payroll and credited to Fringe Benefits Payable 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 $32.500. 9. Applied overhead on the basis of 160 percent of direct labor costs 10. Recognized depreciation of $17.350 on manufacturing property, plant, and equipment Required: a. Prepare journal entries to record these transactions b. The balances that appeared in the accounts of Apex Manufacturing are shown as follows Materiale Inventory Work in Process Inventory Finished doodstventory Coat ot Goods Gold Beginning Ending 555.725 12.525 62,950 $50,000 99,275 Prepare T-accounts to show the flow of costs during the period. Journal entry worksheet B C D E F G 1 J Record material purchases of $53,800 on account. ces Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Journal entry worksheet Record payment made for $53,800 purchase on account. Note: Enter debits before credits Transaction General Journal 3 Debit Credit Record entry Clear entry View general Journal Journal entry worksheet A B D E F G H IJ > Record issue of $25,600 direct material to production department. Note: Enter debits before credits Transaction General Journal 4 Debit Credit Record entry Clear entry Vlow goneral Journal Journal entry worksheet Record payroll cost of which 70% represents direct labor, 20% indirect manufacturing labor and 10% administrative and marketing costs. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal B B D E F G I Record payment of $32,500 for utilities, maintenance etc. Note: Enter debits before credits. Transaction General Journal 8 Debit Credit Record entry Clear entry View general joumal Journal entry worksheet