Ervin Equipment, a manufacturer of exercise and workout equipment for sale to institutions, uses job costing. The following transactions occurred in January: 1. Purchased $76,000 of materials. 2. Paid $81,000 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop. 3. Issued $5,300 of supplies from the materials inventory. 4. Issued $84,000 in direct materials to the production department. 5. Incurred direct labor costs of $74,000, which were credited to Wages Payable, 6. Paid for the materials purchased in transaction (1). 7. Incurred $13,400 in indirect labor costs, which were credited to Wages Payable. 8. Applied overhead on the basis of 155 percent of direct labor costs. 9. Recognized depreciation on manufacturing property, plant, and equipment of $17,500. 10. Returned $1,100 of the materials in transaction (3) to inventory. 11. Paid the for the wages incurred in transaction (5). The following balances appeared in the accounts of Ervin Equipment for January: Materials Inventory Work-in-Process Inventory Finished Goods Inventory Cost of Goods Sold Beginning $ 28,300 50,400 179,200 Ending ? $ 113,000 245,600