Data for February Decrease in materials inventory Materials inventory on Feb. 28 Direct materials purchased Direct materials used Total manufacturing costs incurred in period Total manufacturing costs incurred in period Total manufacturing costs incurred in period $3,000 50% of materials inventory on Jan. 31 $12,300 3 times the direct labor incurred $28,700 70% of Cost of Goods Manufactured $9,000 less than Cost of Goods Sold Account Balances Jan. 31 Account Materials Inventory Work in Process Inventory Finished Goods Inventory Feb. 28 Costs Incurred 6,000 27,000 3,000 Direct Materials Used X Direct Labor Incurred 16,500 Factory Overhead Incurred $ 15,300 5,100 8,300 Cost of Goods Sold 37,700