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 the current year follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $ 15,100 5,500 20,600 The following transactions occurred during January a. Purchased materials on account for $26,200. b. Issued materials to production totaling $20,900, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $19.500 were recorded as follows: $11,200 for assembly workers $2.900 for factory supervision $2.900 for administrative personnel $2,500 for sales commissions d. Recorded depreciation: $5,700 for factory machines, $900 for the copier used in the administrative office. e. Recorded $1,200 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. f. Paid $5,900 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 $2,200 for direct materials, $2.400 for direct labor and $4,800 for applied overhead. 1. Sold jobs costing $50,600. The revenue earned on these jobs was $65,780. 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. Condo Col