Blossom Corporation has the following cost records for the year ended December 31, 2022: Indirect factory labour $5,000 Direct materia used 250,000 Work in process (1/1/2022) 31,000 Work in process (12/31/2022) 25,000 Finished goods (1/1/2022) 35,000 Finished goods (12/31/2022) 28,500 Factory utilities 40,000 Depreciation, factory equipment 34,000 Direct labour 300,000 Indirect materials 22,200 Factory manager's salary 63,000 Selling and administrative expenses 340,000 Net sales 1,230,000 Factory machinery rent 42,000