Costs and Balances At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to figure out some of the amounts. Review the following data and fill in the missing amounts on the chart for Able Baker Charlie Company. Noter It may be helpful to use T accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. IIt may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured Data for February Decrease in materials inventory $3,300 Materials inventory on Feb. 28 50% of materials inventory on Jan. 31. Direct materials purchased $12,000 Direct materials used 3 times the direct labor incurred Total manufacturing costs incurred in period $28,000 Total manufacturing costs incurred in period 70% of Cost of Goods Manufactured $7,000 less than Cost of Goods Sold Total manufacturing costs incurred in period Account Balances Feb. 28 Costs Incurred Account Jan. 31 Direct Materials Used Materials Inventory Work in Process Inventory Direct Labor Incurred 21,000 15,500 Factory Overhead Inccurred Finished Goods Inventory Cost of Goods Sold