Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used $ 173,000 Direct labor 320,000 During 20x2, manufacturing overhead of $180,000 was applied to production. Products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firms inventory accounts are as follows: Raw material $ 225,000 Work in process 14,000 Finished goods 30,000