Christophers 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 $ 17,000 Work in Process Inventory 6,300 Finished Goods Inventory 20,500 The following transactions occurred during January: (a) Purchased materials on account for $26,400. (b) Issued materials to production totaling $22,000, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. (c) Payroll costs totaling $19,000 were recorded as follows: $11,300 for assembly workers 1,500 for factory supervision 2,800 for administrative personnel 3,400 for sales commissions (d) Recorded depreciation: $5,200 for machines, $600 for the copier used in the administrative office. (e) Recorded $1,900 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. (f) Paid $4,900 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 this job shows $2,200 for direct materials, $2,500 for direct labor, and $5,000 for applied overhead. (i) Sold jobs costing $51,500. The revenue earned on these jobs was $66,950. 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 combine/add any dollar amounts when posting to the t-accounts.) Raw Materials Inventory. Work in Process Inventory. Finished Goods Inventory. Cost of Goods Sold. Selling, General, and Administrative Expenses. Sales Revenue. Other accounts (Cash, Payables, etc.).