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Sunset Products manufactures skateboards. The following transactions occurred in March.
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Purchased $24,000 of materials on account.
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Issued $1,400 of supplies from the materials inventory.
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Purchased $25,800 of materials on account.
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Paid for the materials purchased in transaction (1) using cash.
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Issued $30,800 in direct materials to the production department.
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Incurred direct labor costs of $29,000, which were credited to Wages Payable.
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Paid $22,300 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop.
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Applied overhead on the basis of 125 percent of direct labor costs.
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Recognized depreciation on manufacturing property, plant, and equipment of $5,800.
The following balances appeared in the accounts of Sunset Products for March.
| | Beginning | Ending |
| Materials Inventory | $ | 10,200 | | | ? | |
| Work-in-Process Inventory | | 17,300 | | | ? | |
| Finished Goods Inventory | | 65,800 | | $ | 37,300 | |
| Cost of Goods Sold | | | | | 73,800 | |
| |
Required:
a. Prepare journal entries to record the transactions.
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