Adams Corporation manufactures stained glass windows. Since each job is unique in color and design, Adams uses a job-order costing system. Adams has provided you with the following January 1, 2021 account balances. Cash Accounts Receivable Raw Materials 29,000 53,000 10,000 Work in Process 135,000 Finished Goods 58,000 Accounts Payable 16,000 I Sales Revenue Cost of Goods Sold Manufacturing Overhead During 2021, the following transactions occurred: 1. Adams purchased raw materials for $160,000 on account 2. Adams used $150,000 of raw materials in production. Eighty percent were direct materials and 20 percent were indirect materials. 3. $69,000 of direct labor and $27,000 of indirect labor was incurred and paid. 4. Other manufacturing overhead incurred on account totaled $52,000. 5. Adams completed production on goods costing $280,000. 6. Adams sales revenue was $510,000. All goods were sold on account. 7. Adams' Cost of Goods Sold was $320,000 before adjusting for over-/underapplied overhead. 8. Adams applies overhead at 200% of direct labor cost. 9. Adams collected $530,000 from customers and paid $140,000 to vendors. 10. Adams closes over-/underapplied overhead to cost of Goods Sold