Morrison Company uses a job-order costing system to assign manufacturing costs to jobs. Its balance sheet on January 1 is as follows: Morrison Company Balance Sheet January 1 Check my work Assets Cash Raw materials Work in process Finished goods $34,500 $11,700 7,700 30,750 50,150 Bock erences Prepaid expenses Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity Accounts payable Retained earnings Total liabilities and stockholders' equity During January the company completed the following transactions a. Purchased raw materials on account, $93,000, 2,975 145,000 $ 230,625 $ 8,700 221,925 $230,625 b. Raw materials used in production, $98,300 ($84,800 was direct materials and $13,500 was indirect materials) c. Paid $211,800 of salaries and wages in cash ($114,600 was direct labor S48,900 was indirect labor, and $48,300 was related to employees responsible for selling and administration) d Various manufacturing overhead costs incurred (on account) to support production, $36.000 e. Depreciation recorded on property, plant, and equipment, $71,200 (70% related to manufacturing equipment and 30% celated to