Eppich Corporation has provided the following data for the most recent month:

Raw materials, beginning balance	$	23,500
Work in process, beginning balance	$	34,000
Finished Goods, beginning balance	$	52,000

Transactions:

(1)	Raw materials purchases	$	78,500
(2)	Raw materials used in production (all direct materials)	$	78,500
(3)	Direct labor	$	54,000
(4)	Manufacturing overhead costs incurred	$	95,500
(5)	Manufacturing overhead applied	$	74,000
(6)	Cost of units completed and transferred from Work in Process to Finished Goods	$	190,000
(7)	Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold		?
(8)	Finished goods are sold	$	223,500

Required:

Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.