Facebook has provided the following data for the most recent month: Raw materials, beginning balance Work in process, beginning balance Finished Goods, beginning balance $20,000 $32,600 $50,600 Transactions: $ 79,200 $ 77,800 $ 52,600 $ 92,000 $ 72,600 (1) Raw materials purchases (2) Raw materials used in production (all direct materials) (3) Direct labor (4) Manufacturing overhead costs incurred (5) Manufacturing overhead applied (6) Cost of units completed and transferred from Work in Process to Finished Goods (7) Any overapplied or underapplied manufacturing overhead is closed to cost of Goods Sold (8) Finished goods are sold $ 190,000 ? $221,400 Raw Materials Work in Process Beg. Bal. Beg. Bal. End. Bal. End. Bal. Finished Goods Manufacturing Overhead Beg. Bal. Beg. Bal. End. Bal. End. Bal. 0 Cost of Goods Sold Beg. Bal. End. Bal