Journal Entries/T-Accounts Spartans Inc. has the following partially completed t-accounts: Finished Goods Beg. $54,800 $65,400 $85,300 Raw Materials Beg. $10,000 $35,000 $37,500 Wages Payable Direct Labor $43,200 COGS Beg. $0 Work in Process Beg. $18,500 $65,400 $37,500 $43,200 MOH Control $45,200 Use the t-accounts above, along with the additional information below to answer the questions. All materials used were classified as direct materials (indirect materials negligeable and not reported separately) Direct manufacturing labor is paid at a rate of $15.00 per labor hour Manufacturing overhead is allocated based on direct labor hours and an overhead rate of $20.00 per labor hour. Sales revenue for the year was $148,000 Operating expenses (marketing and distribution) expenses for the period were $42,000)