RAW MATERIALS INVENTORY						WORK IN PROCESS INVENTORY
January 1st	59,400		January 1st	25,500
FINISHED GOODS INVENTORY						CASH
January 1st	34,600		January 1st	38,200
ACCOUNTS RECEIVABLE						ACCOUNTS PAYABLE
January 1st	47,300				41,900	January 1st

During the year, the following events occurred:

1. Drew purchased raw materials costing $114,000 on account.

2. Drew used $149,300 of raw materials in production. Of these, 80% were classified as direct materials and 20% as indirect materials. (Drew maintains a single Raw Materials Inventory account.)

3. Drew used 31,200 hours of direct labor. The company's average direct labor rate was $11.00 per hour (credit Wages Payable).

4. The company's indirect labor cost was $168,000 (credit Wages Payable). 5. Other manufacturing overhead costs the company incurred on account totaled $98,400.

6. Drew applied $316,800 in manufacturing overhead.

7. The company completed production of goods costing $795,400.

8. The company's Cost of Goods Sold balance was $801,300 before adjusting for over- or underapplied overhead.

9. Sales revenue was $1,050,000 (all sales were made on account).

10. Drew collected $803,200 from customers.

11. The company paid accounts payable of $201,300.

12. At year-end, all wages earned during the year had been paid.

Need Assistance with the Following:

A: Record the transactions above in the appropriate T-accounts and calculate ending balances. Create new T-accounts if needed. B: Calculate total manufacturing costs for the year.

C: Calculate cost of goods available for sale during the year.

Thank you!