Denver office equipment manufactures and sells metal shelving.It began operations on 1/1/11. Costs incurred for 2011 are as follows. (V stands for variable, F stands for fixed) Direct materials used $147,600 V Direct manufacturing labor costs 38,400 V Plant energy costs 2,000 V Indirect manufacturing labor costs 14,000 V Indirect manufacturing labor costs 19,000 F Other indirect manufacturing costs 11,000 V Marketing distribution and customer service costs 128,000 V marketing distribution and customer service costs 48,000 F Administative costs 56,000 F Variable manufacturing costs are variable to units produced. Varaible marketing distribution and customer service costs are variable to units sold Beginning:1/1/11 Ending 12/31/11 Direct materials 0 lbs 2,400 lbs Work in process 0 units 0 units Finished goods o units ? units Production in 2011 was 123,000 units. Two pounds of direct materials are used to make one unit of finished product. Revenues in 2011 were $594,000. The selling price and the purchase price per pound of direct materials were stable throughout year. The companys ending inventory of finished goods is carried at the average unit manufacturing cost for 2011. Finished goods inventory at 12/31/11 was $26,000. 1. calculate direct materials inventory total cost 12/31/11. 2. calculate finished goods inventory total units 12/31/11. 3. Calculate selling price in 2011. 4. Calculate operating income for 2011