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 $ 174, 000 321, 000 160,000 During 20x2, products costing $121,000 were finished, and products costing $132.000 were sold on account f 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 14, 000 32,000 Required: 1. Prepare T-accounts to show the flow of costs through the company's manufacturing accounts during 20x2. & Answer is not complete. Beg. Bal. Raw Material Inventory 226,000 174,000 Beg. Bal. Direct material Direct labor Manufacturing overhead Work-in-Process Inventory 14,000 174,000 321,000 121,000 End. Bal. 52,000 End. Bal. 388,000 Wages Payable Manufacturing Overhead Beg. Bal. Beg. Bal. 321,000 End. Bal. 321,000 End. Bal. Sales Revenue Beg. Bal. Finished-Goods Inventory 32,000 121,000 132,000 Beg. Bal. 195,000 End. Bal. 21,000 End. Bal. 195,000 Accounts Receivable Cost of Goods Sold Beg. Bal. Beg. Bal. 195,000 132,000 End. Bal. 195,000 End. Bal. 132,000