The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year. Raw Materials Credit Debit Beginning Balance 5,300 5,500 9,600 Work in Process Credit Debit Beginning Balance 22,500 4,400 6,500 8,800 8,600 Finished Goods Credit Debit Beginning Balance 20,700 2,500 22,500 Manufacturing Overhead Debit Credit 8,600 3,100 3,800 3,500 Debit Wages & Salaries Payable Credit 20,700 Beginning Balance 2,800 12,600 Cost of Goods Sold Debit Credit 20,700 The direct materials cost was