The following inventory information is available for Blossom Manufacturing Corporation for the year ended December 31, 2022: Inventories: Beginning Ending Raw materials $21,080 $23,560 Work in process 11,160 17,360 Finished goods 13,640 9,920 Total $45,880 $50,840 In addition, the following transactions occurred in 2022: 1. Raw materials purchased on account, $93,000. 2. Incurred factory labor, $99,200, all is direct labor. 3. Incurred the following overhead costs during the year: utilities $8,432, depreciation on manufacturing machinery $9,920, manufacturing machinery repairs $11,408, factory insurance $11,160 (Credit Accounts Payable and Accumulated Depreciation). 4. Assigned $99,200 of factory labor to jobs. 5. Applied $44,640 of overhead to jobs.