Waterway 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, Waterway uses a job order costing system. On January 1, the T-accounts for some of Waterway's primary balance sheet accounts were as follows: Raw Materials Inventory 60,400 Work in Process Inventory 25,500 1/1 1/1 Cash Finished Goods Inventory 37,600 1/1 1/1 38,200 Accounts Receivable Accounts Payable 1/1 1/1 47,300 41,900 During the year, the following events occurred: 1. 2. Waterway purchased raw materials costing $112,000 on account. Waterway used $149,300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Waterway maintains a single Raw Materials Inventory account.) During the year, the following events occurred: 1. Waterway purchased raw materials costing $112,000 on account. 2. Waterway used $149,300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Waterway maintains a single Raw Materials Inventory account.) 3. Waterway used 31,300 hours of direct labor. The company's average direct labor rate was $11 per hour (credit Wages Payable). 4. The company's indirect labor cost was $168,000 (credit Wages Payable). 5. Other manufacturing overhead costs the company incurred on account totaled $95,400. 6. Waterway 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 $1,040,000 (all sales were made on account). 10. Waterway 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. 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 4 Finished Goods Inventory Finished Goods Inventory . Cost of Goods Sold Manufacturing Overhead Cash Cash Accounts Receivable Accounts Payable Accounts Payable 2 Wages Payable 2 Sales Revenue A