Billy Bob's Manufacturing had the following data for the fiscal year ended December 31. Direct Materials Inventory, January 1 Direct materials purchases Direct materials used Fixed factory overhead Total factory overhead Total manufacturing costs Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Goods available for sale Cost of goods sold $ 32,100 374,500 369, 150 513,600 599, 200 1,158,299 44,940 48,150 61,200 1,146, 140 1,106,140 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. soods entory on December 31. Answer is complete but not entirely correct. 1. Direct Materials Inventory on December 31. Direct labor costs for the year. Variable factory overhead costs for the year. Cost of goods manufactured for the year. Finished Goods Inventory on December 31. 37,450 189,940 X 85,600 $ 1,155,080 40,000 $ $ $ . 5