CHALLENGE EXERCISES 167. Norris Decorators manufactures special order window coverings. During May, Norris's transactions included the following: Work in process inventory, May 1 $ 160Sales $23,000 Factory equipment depreciation exp. 2,800Selling expenses 2,100 Work in process inventory, May 31 240Factory supervision wages expense 2,300 Raw materials purchased 11,500Indirect labor cost incurred 400 Raw materials inventory, May 1 160Factory utilities expense 900 Raw materials inventory, May 31 280Direct labor cost incurred 5,400 Finished goods inventory, May 1 700Finished goods inventory, May 31 950 a. How much is the cost of direct materials issued to production during May? b. Show the product cost amounts that would be reported on Norris' balance sheet as of May 31, and describe the nature of each amount