Costs incurred: Purchases of direct materials $($net$)$ on credit $$124,000$Direct manufacturing labor cost $80,000$ Indirect labor $54\mathrm{.}500$Depreciation, factory equipment $30,000$Depreciation, office equipment $7,000$ Maintenance, factory equipment $20,000$ Miscellaneous factory overhead $9,500$Rent, factory building $70,000$ Advertising expense $90\mathrm{.}000$Sales commissions $30,000(=$ sales amount $*5\%)$Inventories: January $1,20$X$1$December $3120$X$1$Direct materials$ $9\mathrm{.}000$$$11\mathrm{.}000$Work in process$6\mathrm{.}00021\mathrm{.}000$Finished goods$69\mathrm{.}00024\mathrm{.}000$Indirect materials are insignificant so there is no inventory account for indirect materials.