Brandon's Boards makes reasonably high-end skateboards which sell for $600 each. The production process is fairly simple and involves assembling components purchased from various suppliers. Since each skateboard only takes two hours to assemble, there is essentially no work-in-process inventory. Brandon's Boards has the capacity to make 700 skateboards per year. Costs for the skateboard components are: Each board should take two hours of direct labor to assemble. Direct labor wages are $60 per hour. Other indirect manufacturing costs on a monthly basis are budgeted to be: Inventory balances are as follows (Brandon's uses FIFO inventory cost flow assumption): Finishedskateboards1/1/2022300$112,50012/31/2022316