Required information Exercise 3-31 Manufacturing Cost Flows (LO 3-2, 3-5, 3-6) [The following information applies to the questions displayed below] Reimel Furniture Company, Inc, incurred the following costs during 20x2. Raw material used $ 173,666 Dir'ec't labor' 322,666 During 20x2, manufacturing overhead of $170,000 was applied to production. Products costing $121,000 were finished, and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year, The beginning balances in the firm's inventory accounts are as follows: Raw material $ 227,666 Work in process 16,666 Finished goods 36,666 Exercise 3-31 Part 2 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Prepare a partial balance sheet. Income Stmt > Exercise 3-31 Part 2 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Prepare a partial income statement.