please answer and explain.

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Crane Corp. designs and manufactures mascot uniforms for high school, college, and professional sports teams. Since each team's uniform is unique in color and design, Crane uses a job order costing system. On January 1, the T-accounts for some of Crane's primary balance sheet accounts were as follows: 1. Crane purchased raw materials costing $112,000 on account. 2. Crane used $149,300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Crane maintains a single Raw Materials Inventory account.) 3. Crane used 31,000 hours of direct labor. The company's average direct labor rate was $11 per hour (credit Wages Payable). 4. The company's indirect labor cost was $168,000 (credit Wagespayable). 5. Other manufacturing overhead costs the company incurred on account totaled $94,400. 6. Crane applied $316,800 in manufacturing overhead. 7. The company completed production of goods costing $795,400. 8. The company's Cost of Goods Sold balance was $801,300 before adjusting for over-or underapplied overhead. 9. Sales revenue was $1,040,000 (all sales were made on account). 10. Crane collected $803,200 from customers. 11. The company paid accounts payable of $201,300. 12. At year-end, all wages earned during the year had been paid. Record the transactions above. in the appropriate T-accounts and calculate ending balances. (Post entries in order presented in the problem.) Work in Process Inventory Cost of Goods Sold Manufacturing Overhead (6) 316,800 Bal. 316,800 Accounts Receivable \begin{tabular}{|r|} \hline 47,300 \\ \hline 803,200 \\ \hline 850,500 \\ \hline \end{tabular} Accounts Payable (1) Wages Payable Wages Payable Sales Revenue (9) 1,040,000 Bal. 1,040,000