Workout Problem (10 points) Alameda Products Inc. uses a job-order costing system. start of its fiscal year, were as follows: The company's inventory balances at the Raw materials Work in process Finished goods $32,000 $29,000 $48,000 During the year, the following transactions were completed: a. Raw materials were purchased on account, $175,000. b. Raw materials were issued from the storeroom for use in production, $180,000 ($144,000 direct and $36,000 indirect). c. Cost for employee services were incurred as follows: direct labor, $200,000; indirect labor, $80,000; selling and administrative salaries, $100,000. d. The amount of manufacturing overhead applied to jobs was $355,000. e. Goods that cost $710,000 to manufacture according to their job costs were transferred to the finished goods warehouse. f. Sales for the year totaled $1,000,000 and were all on account. The total cost to manufacture these goods according to their job costs sheets was $724,000. 1. What is the balance of the "Raw materials" account at the end of the year? 2. What is the balance of the "Work in process" account at the end of the year? 3. What is the balance of the "Finished goods" account at the end of the year? 4. In recording transaction b. above, what account would be debited for $36,000? 5. In recording transaction c. above, what dollar amount would Salaries Expense" be debited for