Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,000 Direct materials used 254,200 Work in process (1/1/2020) 31,800 Work in process (12/31/2020) 26,000 Finished goods (1/1/2020) 35,300 Finished goods (12/31/2020) 28,600 Factory utilities 41,400 Depreciation, factory equipment 34,000 Direct labour 304,900 Indirect materials 22,500 Factory manager's salary 63,200 Selling and administrative expenses 340,900 Net sales 1,232,000 Factory machinery rent 42,700