Analyze the following T-accounts: Determine the missing amounts. (Assume that material costs are recorded before labor costs.)

217-26 (similar to) Analyze the following T-accounts: (Click the icon to view the T-accounts.) Determine the missing amounts. (Assume that material costs are recorded before labor costs.) Raw Materials Inventory Work-in-Process Inventory 24,000 2,500 21,500 (a) (b) 17,000 34,000 Finished Goods Inventory 5,000 Wages Payable Bal. Bal. Bal. Bal. 6,500 12,000 1 ,500 Accounts Payable 24,000 Cost of Goods Sold 1 ,ooo 30,000 Bal. Accumulated Depreciation 7,000 Manufacturing Overhead 4,500 1,500 7,000 12,000