Required information [The following information applies to the questions displayed below.] Reimel Furniture Company, Inc., Incurred...

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Required information [The following information applies to the questions displayed below.] Reimel Furniture Company, Inc., Incurred the following costs during 20x2. Raw material used Direct labor $173,000 322,000 "During 20x2, manufacturing overhead of $170,000 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 firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 18,000 28,000 Required information [The following information applies to the questions displayed below.] Reimel Furniture Company, Inc., Incurred the following costs during 20x2. Raw material used Direct labor $173,000 322,000 "During 20x2, manufacturing overhead of $170,000 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 firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 18,000 28,000