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, 000 Direct labor 323, 000 During 20x2, manufacturing overhead of $180,000 was applied to production. Products costing $121,000 were finished, and products costing $132,000 were sold on account for $193,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material $226, 000 Work in process 16, 000 Finished goods 32, 000 Exercise 3-31 Part 1 Required: 1. Prepare T-accounts to show the flow of costs through the company's manufacturing accounts during 20x2