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CoursHeroTranscribedText: 1. Purchased $16,810 of materials on account 1 Issued $16,710 in direct materials to the production department E 3. Issued $1,360 of supplies from the materials inventory. ' 4. Paid for the materials purchased intransaction (1] using cash 5 Returned $2,040 of the materials issued to production tn {2] to the materials inventory. ""'" 6. Direct labor employees earned $31 900, Which was paid in Cash- 7 Purchased miscellaneous items for the manufacturing plant for $17 400 on account 8. Recognized depreciation on manufacturing plant of $35,600. 9. Applied manufacturing overhead for the month- .H.' 1;. Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annuaL predetermined rate. At the M beginning of the year, management estimated that direct labor costs for the year would be $435,800. Estimated overhead for the year .. .. was $414,010. The following balances appeared in the inventory accounts of Forest Components for July. "Materials Inventory ? $12,450 Malawi-ates; Inventory- - 2 10,616 Finished Goods Mastery- $2,769 7,998 afoot of Goods Sold ' ' 3' 14,409 Required: 3. Prepare journal entms to record these transactions. b Prepare T-accounm to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold

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