2-31. Prepare Statements for a Manufacturing Company The following balances are from the accounts of Hill Components: December 31 (Ending) January 1 (Beginning) Direct materials inventory. Work-in-process inventory. $48,100 67,730 15,600 Finished goods inventory. $44,200 71,500 18,200 Direct materials used during the year amount to $59,800, and the cost of goods sold for the year was $68,900. Required Find the following by completing a cost of goods sold statement: a Cost of direct materials purchased during the year. b Cost of goods manufactured during the year. C Total manufacturing costs incurred during the year. (LO 2-2, 4)