1. Using the following information, compute the cost of direct materials used. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) $1,390,000. B) $1,330,000. C) $1,300,000. D) $1,270,000. 2. Assuming the cost of direct materials used is $1,300,000, compute the total manufacturing costs using the information below. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) $2,790,000. B) $2,781,000. C) $2,490,000. D) $3,420,000. Assuming that the total manufacturing costs are $2,700,000, compute the cost of goods manufactured using the information below. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) $2,688,000. B) $2,691,000. C) $2,709,000. D) $2,712,000. 3.Assuming that the cost of goods manufactured is $2,760,000 compute the cost of goods sold using the following information. Raw materials inventory, January 1 $ 30,000 Raw materials inventory, December 31 60,000 Work in process, January 1 27,000 Work in process, December 31 18,000 Finished goods, January 1 60,000 Finished goods, December 31 48,000 Raw materials purchases 1,300,000 Direct labor 690,000 Factory utilities 225,000 Indirect labor 75,000 Factory depreciation 500,000 Operating expenses 630,000 A) $2,769,000. B) $2,712,000. C) $2,748,000. D) $2,772,000