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 2018 follow Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $16,400 7,000 21,100 The following transactions occurred during January (a) Purchased materials on account for $26,300 (b) Issued materials to production totaling $21,300, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials (c) Payroll costs totaling $17.900 were recorded as follows: $11,600 for assembly workers 1.200 for factory supervision 1700 for administrative personnel 3.400 for sales commissions (d) Recorded depreciation: $6,000 for factory machines. $1,400 for the copler used in the administrative office. (e) Recorded $1100 of expired Insu co. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. Paid $6,400 in other factory costs in cash (0) Applied manufacturing overhead at a rate of 200 percent of direct labor cost. my completed all jobs but one the job cost sheet for the uncompleted job shows $2,300 for direct materials. $2,200 for direct labor, and $4,400 for applied overhead Sold jobs costing $50,700. The revenue earned on these jobs was $65.910. Required: 1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: a. Raw Materials Inventory b. Work in Process Inventory. c. Finished Goods Inventory d. Cost of Goods Sold e. Manufacturing Overhead, EGA 6. Finished Goods Inventory. d. Cost of Goods Sold. e. Manufacturing Overhead, f. Selling, General, and Administrative Expenses g. Sales Revenue. Show less Raw Materials Inventory 16,400 26,300 21,300 (6) Work in Process Inventory 7,000 Beg Bal (a) Beg Bal (b) c) fa) End. Bol 21,400 (h) End, Bali 7,000 Finished Goods Inventory 21,100 Cost of Goods Sold Reg. Bal ch) Beg Bal 0 50,700 End Bal 21.100 End. Bal 50,700 Manufacturing Overhead Bop Bal D) (c) (a) (0) (0 Selling, General, and Administrative Expenses Beg Bal c) 1.200 (c) 3,600 (d) 15,000 fo) 060 End. Bal 21,460