solution required

Exercise 3-30 Manufacturing Cost Pows (1:0 2.10 5,LOG Jay Sports Equipment Company, Inc. incurred the following costs during 19x9. Direct materiale $174.000 Direct to 324.000 Manufacturing overtid applied 180.000 During 19x9, products costing $120,000 were finished, and products costing $132.000 were solde account for $195,000. There were no purchases of raw material during the year. The beginning bulan in the firm's inventory accounts are as follows: Raw material $227.000 Works 16,000 Finished goods 30.000 Required: 1. Prepare T-accounts to show the flow of costs through the company's manufacturing accounts during 19x9. 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. (Hint: See Exhibit 3-2.)