Required information 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 173,000 323,000 160,000 During 20x2, products costing $121,000 were finished, and products costing $132,000 were sold on account for $197,000 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 30,000