1. Materials inventory decreased $4,000.

2. Materials inventory on December 31 was 50% of materials inventory on January 1.

3. Beginning work in process inventory was $145,000.

4. Ending finished goods inventory was $65,000.

5. Direct materials used were 2.5 times the cost of direct labor.

6. Purchase of direct materials were $154,700

7. Total manufacturing cost incurred were $246,400, 80% of cost goods manufactured and $156,000 less cost of goods sold.

a. Compute Finished goods inventory on January 1 b. Compute work in process inventory on December 31. c. Compute direct labor incurred. d. Compute factory overhead incurred. e. Compute Materials inventory on January 1. f. Compute Materials inventory on December 31