Buffalo Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2020. (Click the icon to view the costs incurred during 2020.) (Click the icon to view the inventory data.) Revenues in 2020 were $594,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2020. Finished-goods inventory at December 31, 2020, was $26,000. Read the requirements. Costs incurred for 2020 are as follows (V stands for variable; F stands for fixed): Inventory data are as follows: Direct materials used $147,600 V Beginning: January Ending: December 1, 2020 31, 2020 Direct manufacturing labor costs $41,400 V Direct materials Plant energy costs $3,000 V Work in process Indirect manufacturing labor costs $10,000 V Finished goods 0 lb O units O units 2,400 lbs 0 units ? units Indirect manufacturing labor costs $19,000 F Other indirect manufacturing costs Other indirect manufacturing costs $11,000 V Production in 2020 was 123,000 units. Two pounds of direct materials are used to make one unit of finished product. $14,000 F Marketing, distribution, and customer-service costs $123,000 V Marketing, distribution, and customer-service costs Administrative costs Variable manufacturing costs are variable with respect to units produced. Variable marketing, distribution, and customer-service costs are variable with respect to units sold. $50,000 F $52,000 F 1. Calculate direct materials inventory, total cost, December 31, 2020. 2. Calculate finished-goods inventory, total units, December 31, 2020. 3. Calculate selling price in 2020. 4. Calculate operating income for 2020.