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On January 1, the ledger of the Phinney Furniture Company contained, among other accounts, the following: Cash $40,000; Finished Goods, $25,000; Work in Process, $30,000; Materials, $15,000 (also record the total amount of these as equity). During January, the following transactions were completed: (a) Materials were purchased at a cost of (PA). (b) Direct materials in the amount of (PB) were issued from the storeroom. (c) Storeroom requisitions for indirect materials and supplies amounted to (PC). (d) The total payroll for January amounted to (PD), including marketing salaries of (PE) and administrative salaries of [PF). Labor time tickets show that (PG) of the labor cost was direct labor. Various factory overhead costs were incurred for (PH) on account. Total factory overhead is charged to the work in process account. (s) Production in WIP completed at the amount of [Pil, and also recorded in finished goods in the shipping (h) The finished WIP in (s) was shipped to customers (also record entry for cost of goods sold). 00 The customers to whom shipments were made during the month were billed for [PJ). Os room, I PA $ 26,000 PBS 25,000 PCS 3,000 PD $ 34,000 PE $ 7,200 PF $ 6,000 PGS 16,400 PHS 14,000 PI $ 58,000 PJ $ 83,000 Questions: 1. Enter the transactions in their relevant T-accounts. 2. Prepare a trial balance sheet for Phinney

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