Assuming that the direct materials used are $1,700,000, compute the total manufacturing costs using the following information Raw materials inventory, January 1 $ 20,000 Raw materials inventory, December 31 40.000 Work in process, January 1 18.000 Work in process, December 31 12,000 Finished goods, January 1 40,000 Finished goods, December 31 32,000 Raw materials purchases 1,700,000 Direct labor 760,000 Factory utilities 150,000 Indirect labor 50 000 Factory depreciation 400,000 Operating expenses 420,000 a $3,060,000 b. $3,066,000 OC $2,860,000 d. $3,480,000