Jay Sports Equipment Company, Inc. incurred the following costs during 20x2.

Direct material used	$172,000
Direct labor	320,000
Manufacturing overhead applied	160,000

During 20x2, products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firms inventory accounts are as follows:

Raw material

$225,000

Work in process

16,000

Finished goods

30,000

Required:
1.	Prepare T-accounts to show the flow of costs through the companys manufacturing accounts during 20x2.
	NEED t-accounts for raw-material inventory, work in progress inv, wages payable, manufacturing overhead, finished-goods inventory, sales rev, accounts receivable, cost of goods sold.

2.	Prepare a partial balance sheet and a partial income statement to reflect the information given above.