As of January $1,2015,$ Tippy Cup Co$.$ had a balance of $$15,000$ for raw materials inventory. The companys ending balance of raw materials inventory totaled $$13,900.$ Every four months, the company purchases $250$ pounds of raw materials at $$25$ a pound. Calculate the cost of direct materials used for the year. Tippy Cup Co$.$ also incurred $$10,550$ for factory overhead and $250$ hours of direct labor at $$10\mathrm{.}30$ per hour. Using the cost of direct materials used calculated $,$ determine the total manufacturing costs incurred for the year As of January $1,2015,$ Tippy Cup Co$.$s work in process inventory had a beginning balance of $$98,750.$ The ending balance of work in process inventory totaled $$92,350.$ Using the information calculated $,$ calculate the cost of goods manufactured for the year. Using the information calculated, prepare a statement of cost of goods manufactured for Tippy Cup Co$.$