PROBLEM IV Complete the missing amounts and labels in the T accounts Work in Process Cutting Balance, May 1 0 (a) Transfer out to WIP Finishing Direct Materials 48,000 Direct Labor 14,000 Manufacturing Overhead 30,000 Balance, May 31 8,000 -Finishing Transfer out to WIP-Packaging Balance, May 1 Transfer in from WIP Cutting Direct Materials Direct Labor Manufacturing Overhead Balance, May 31 Work-in-Process 14,000 130,000 (b) 22,000 (c) 23,000 22,000 Packaging Transfer out to FG Inventory Work-in-Process Balance, May 1 10,000 (d) Transfer in from WIP-Finishing (e) Direct Materials 8,000 Direct Labor 5,000 Manufacturing Overhead 8,000 Balance, May 31 11,000 Finished Goods Inventory Balance, May 1 06 Transfer out to COGS Transfer in from WIP-Packaging (0) Balance, May 31 11.000 Balance, May 1 Transfer in from FG Inventory Balance, May 31 Cost of Goods Sold 0 (h) (1)