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 $15,500 6,900 Finished Goods Inventory 21,600 The following transactions occurred during January (a) Purchased materials on account for $26,600. (b) Issued materials to production totaling $20,500, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $15,600 were recorded as follows: $10,700 for assembly workers 2,000 for factory supervision 1,300 for administrative personnel 1,600 for sales commissions (d) Recorded depreciation: $4,600 for factory machines, $1,300 for the copier used in the administrative office. (e) Recorded $1,300 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $4,600 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 the uncompleted job shows $2,500 for direct materials, $2,500 for direct labor, and $5,000 for applied overhead. (Sold jobs costing $51,900. The revenue earned on these jobs was $67,470. 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