Sunland Corp.designs and manufactures mascot uniforms for high school.college and professional sports teams. Since each team's uniform is unique in color and design, Sunland uses a job order costing system. On January 1, the T-accounts for some of Sunland's primary balance sheet accounts were as follows: Raw Materials Inventory 57,400 Work in Process Inventory 1/1 24,000 1/1 Finished Goods Inventory 34,600 Cash 34,200 1/1 1/1 Accounts Receivable 47.300 Accounts Payable 1/1 41,900 1/1 Question 1 of 1 -/10 Accounts Receivable 47.300 1/1 Accounts Payable 1/1 41.900 4. During the year, the following events occurred: 1. Sunland purchased raw materials costing $116,000 on account. 2. Sunland used $149.300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Sunland maintains a single Raw Materials Inventory account.) 3. Sunland used 31.800 hours of direct labor. The company's average direct labor rate was $11 per hour (credit Wages Payable). The company's indirect labor cost was $168,000 (credit Wages Payable) Other manufacturing overhead costs the company incurred on account totaled 596,400. Sunland applied $316,800 in manufacturing overhead. 7 The company completed production of goods costing $795.400, 8. The company's Cost of Goods Sold balance was $801.300 before adjusting for over- or underapplied overhead. 9. Sales revenue was $1.060,000 (all sales were made on account). 10. Sunland collected $803,200 from customers, 11. The company paid accounts payable of $201.300. 12. At year-end, all wages earned during the year had been paid. 5. 6 Record these asiat accounts and calculated lance last timanecesented in the A le 25 Record the transactions above in the appropriate T-accounts and calculate ending balances. (Post entries in order presented in the problem.) Raw Materials Inventory Work in Process Inventory > > > Finished Goods Inventory Cost of Goods Sold Manufacturing Overhead Cash Accounts Receivable Accounts Payable > >