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Billy Bob s Manufacturing had the following data for the fiscal year ended December 3 1 . Direct Materials Inventory, January 1

Billy Bobs Manufacturing had the following data for the fiscal year ended December 31.
Direct Materials Inventory, January 1              $ 31,800
Direct materials purchases                                        371,000
Direct materials used                                                   365,700
Fixed factory overhead                                        508,800
 
 Total factory overhead                                        593,600 
 
Total manufacturing costs to account for         1,147,820
Work-in-Process Inventory, January                144,520
Work-in-Process Inventory, December          3147,700
Finished Goods Inventory, January                  136,000
Goods available for sale                                           1,136,120
Cost of goods sold                                                      1,097,120
Required:
Calculate the following costs:
1. Direct Materials Inventory on December 31.
2. Direct labor costs for the year.
3. Variable factory overhead costs for the year.
4. Cost of goods manufactured for the year.
5. Finished Goods Inventory on December 31.

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