Required information Exercise 3-31 Manufacturing Cost Flows (LO32.3-5,3-6) [The following information applies to the questions displayed below. Reimel Furniture Company, Inc. incurred the following costs during 20x2 Direct material used Direct labor Manufacturing overhead $172 000 320,000 170-000 During 20x2, products costing $120.000 were inished, and products costing $132,000 were sold on account for $195.000. There were no purchases of raw material during the year. The beginning balances in the flirm's inventory accounts are as follows Raw material Work in process Pinished goods $225.000 16,000 32,000 Exercise 3-31