Waterway Fabricators covers for smart phones. Since the covers must be customized to each smart phone model, Waterway uses a job order costing system. On September 1, the company reported the following inventory balances: Direct Materials $29,300 Work in Process $151,000 Finished Goods $257,000 (Part by StudyD During September, the following events occurred 1. Waterway purchased direct materials costing $1,041,000 on account 2. Waterway used $427,000 in direct materials in production. 3. Waterway's employees clocked 24,000 direct labor hours at an average wage rate of $13.01 per direct labor hour 4 The company incurred $179,000 in manufacturing overhead, including $26,000 in indirect labor costs. 5. using direct labor hours as the application base, the company applied $164,000 of manufacturing overhead to jobs worked on in September. 6. The company completed production on jobs costing $855,000. 7. The company delivered jobs costing $1,075,000 to customers