complete the ledger

#26 on my hw

Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,500 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Bal. 1/1 Raw Material Inventory 21,300 134,900 36,000 Accounts Payable 2,600 Bal. 1/1 136,500 1,000 Bal. 12/31 Bal. 12/31 Work-In-Process Inventory 17.000 718,000 150,000 Bal. 1/1 Direct material Direct labor Manufacturing overhead Bal, 12/31 Bal. 1/1 Finished Goods Inventory 12,000 718,000 710,000 20,000 Bal 12/31 19,000 Manufacturing Overhead Cost of Goods Sold 710,000 710,000 Sales Revenue Wages Payable 2,000 Bal. 1/1 147,000 150,000 5,000 Bal. 12/31 0 Accounts Receivable Manufacturing Overhead 0 Wages Payable 2,000 Bal. 1/1 147,000 150,000 5,000 Bal. 12/31 Bal. 1/1 Accounts Receivable 11,200 806,000 15,000 Bal. 12/31