Perfecto Pizza Company prodtices microwavable pizzas. The following accounts appeared in Perfecto€™s ledger as of December 31.

Additional information:
a. Accounts payable is used only for direct-material purchases.
b. Under applied overhead of $2,500 for the year has not yet been closed into cost of goods sold.

Required: Complete the T-accounts by computing the amounts indicated by a questionmark.

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Raw-Materials Inventory Accounts Payable Bal. 1/1 21,000 2,500 Bal. 1/1 136,500 ? Bal. 12/31 36,000 1,000 Bal. 12/31 Work-in-Process Inventory Finished-Goods Inventory Bal. 1/1 Direct material Direct labor Manufacturing 17,000 Bal. 1/1 12,000 Bal. 12/31 20,000 Bal. 12/31 19,000 Manufacturing Overhead Cost of Goods Sold 710,000 Wages Payable 2,000 Sales Revenue Bal. 1/1 147,000? 5,000 Bal. 12/31 Accounts Receivable Bal, 1/1 11,000 806,000 Bal. 12/31 15,000