QTE, Inc., manufactures a single product. The following information is available for 2022: View the data. Read the requirements. Requirement a. Complete the T-accounts for raw materials, work in process, and finished goods. Complete each T-account by entering amounts along with appropriate posting reference descriptions to the proper side of the accounts. Ente ending balance (along with the appropriate posting reference) on the last line of each account. The $0 beginning balance of the Finished Go View the abbreviations. Beg. Bal. Raw Materials Inventory Finished Goods Inventory 0 Work in Process Inventory Data Raw materials: Beginning balance: $2,000. Purchased $60,000 on credit. Direct materials used in production were three-fourths of direct materials bought. Work in process: Beginning balance: $4,100. Ending balance: $7,200. Units transferred out: 11,000. All units have the same average cost. Finished goods: Beginning balance: 0 units. Ending balance: 500 units. Also known: Prime costs $ 68,000 Indirect labor $ 10,000 Factory insurance $ 2,600 Utilities $ 11,000 (80% relates to production) Factory depreciation $ 1,700 Sales $ 17 Per unit Administrative and selling costs $ 21,000 (other than utilities) Print Done