10 = View Policies Current Attempt in Progress The following inventory information is available for Ricci Manufacturing Corporation for the year ended December 31, 2019: Beginning Ending Inventories: Raw materials Work in process Finished goods Total $17.000 9,000 11,000 $37,000 $19,000 14,000 8,000 $41,000 1. 2. In addition, the following transactions occurred in 2019: Raw materials purchased on account. $75,000. Incurred factory labor. $80,000, all is direct labor. (Credit Factory Wages Payable). 3. Incurred the following overhead costs during the year: Utilities $6,800, Depreciation on manufacturing machinery $8,000, Manufacturing machinery repairs $9.200, Factory insurance $9.000 (Credit Accounts Payable and Accumulated Depreciation). Assigned $80,000 of factory labor to jobs. Applied $36,000 of overhead to jobs. 4. 5. (a) Reproduce the manufacturing cost and inventory accounts. Use T-accounts.(Post entries in the order of journal entries presented in the previous question.) Raw Materials Inventory Bal. 17000 (1) 75000 . Finished Goods Inventory Manufacturing Overhead Work in Process Inventory . Manufacturing Overhead Work in Process Inventory Factory Labor Cost of Goods Sold Attempts:0 of 1 used Submit Answer Save for Later