A company compiled the following information for the current year. (Assume that all raw materials used were direct materials) Raw materials inventory, January 1 $ 30000 Raw materials inventory. 50000 December 31 Work in process, January 1 18000 Work in process, December 31 12000 Finished goods, January 1 40000 Finished goods, December 31 32000 Raw materials purchases 1500000 Direct labor 760000 Factory utilities 150000 Indirect labor 50000 Factory depreciation 400000