Safety Shutters produces hurricane shutters in a three-stage process that includes Cutting, Assembling, and Finishing, in that order. Direct materials are added in the Cutting and Finishing Departments. Direct labor and overhead are incurred in all three departments. The company's general ledger includes the following accounts:
Cost of Goods Sold................................Materials Inventory
Wages Payable..............................Finished Goods Inventory
Work in Process Inventory-Cutting.....Manufacturing Overhead
Work in Process Inventory-Assembling
Work in Process Inventory-Finishing
Outline the flow of costs through the company's accounts, including a brief description of each flow. Include a T-account for each account title given.