Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of 2016 follow:

The following transactions occurred during January:

(a) Purchased materials on account for $26,000.

(b) Issued materials to production totaling $40,000, 80 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials.

(c) Payroll costs totaling $69,700 were recorded as follows:
    $18,000 for assembly workers  
      5,200 for factory supervision 
      31,000 for administrative personnel 
      15,500 for sales commissions

(d) Recorded depreciation: $8,500 for machines, $2,400 for the copier used in the administrative office.

(e) Recorded $4,000 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense.

(f) Paid $7,800 in other factory costs in cash.

(g) Applied manufacturing overhead at a rate of 300 percent of direct labor cost.

(h) Completed all jobs but one; the job cost sheet for this job shows $10,000 for direct materials, $3,000 for direct labor, and $9,000 for applied overhead.

(i) Sold jobs costing $70,000. The revenue earned on these jobs was $91,000.

Required:

1. Set up T-accounts, record the beginning balances, post the January transactions, and compute the final balance for the following accounts: (Post all amounts separately. Do not combine/add any dollar amounts when posting to the T-accounts.)

1. Raw Materials Inventory.
2. Work in Process Inventory.
3. Finished Goods Inventory.
4. Cost of Goods Sold.
5. Selling, General, and Administrative Expenses.
6. Sales Revenue.
7. Other accounts (Cash, Payables, etc.).