Problem 3-44 Manufacturing Cost Flows; Analysis of T-Accounts (LO 3-2, 3-5) Perfecto Pizza Company produces microwavable pizzas. The following accounts appeared in Perfecto's ledger as of December 31. Additional information: a. Accounts payable is used only for direct-material purchases. b. Underapplied overhead of $2,600 for the year has not yet been closed into cost of goods sold. Required: Complete the following T-accounts. Raw Material Inventory 21,100 Bal. 1/1 Accounts Payable 2,700 Bal. 1/1 136,500 Bal. 1,000 12/31 Bal. 12/31 36,000 Work-in-Process Inventory Bal. 1/1 17,000 Direct material Finished-Goods Inventory Bal. 1/1 12,000 Bal. 12/31 20,000 Direct labor Manufacturing overhead Bal. 12/31 19,000 Manufacturing Overhead Cost of Goods Sold 710,2001 0 710,200 Sales Revenue Wages Payable 2,000 Bal. 1/1 147,000 5,000 Bal. 12/31 0 Bal. 1/1 Accounts Receivable 11,100 806,000 15,000 Bal. 12/31