Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2016 follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $16,400 6,800 21,800 The following transactions occurred during January (a) Purchased materials on account for $26,700 (b) Issued materials to production totaling $21,200, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials (c) Payroll costs totaling $19,100 were recorded as follows: $11,900 for assembly workers 2,200 for factory supervision 2,500 for administrative personnel 2.500 for sales commissions (d) Recorded depreciation: $5,500 for machines, $1,400 for the copier used in the administrative office (e) Recorded $1,600 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense ?Paid $5,400 in other factory costs in cash (g) Applied manufacturing overhead at a rate of 200 percent of direct labor cost. (h) Completed all jobs but one; the job cost sheet for this job shows $2,300 for direct materials, $2,100 for direct labor, and $4,200 for applied overhead ()Sold jobs costing $50,500. The revenue earned on these jobs was $65,650 Required 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: (Post all amounts separately. Do not combineladd any dollar amounts when posting to the t-accounts.)