January 1, 2016 December 31, 2016 Inventories: Raw materials Work in process Finished goods Costs incurred: Raw materials purchases Direct labor Factory rent Factory utilities Indirect materials Indirect labor Operating expenses $ 8,000 15,000 16,000 $ 7,000 13,000 12,000 $ 98,000 42,000 8,000 10,000 6,000 9,000 17,000 SIMON COMPANY ule of Cost of Goods Manufactured e Year Ended December 31, 2016 Raw Materials Inventory, Ending Direct Materials Raw Materials Available for Use Direct Labor Work in Process, Ending Work in Processing, Beginning Direct Materials Used Manufacturing Overhead Cost of Goods Manufactured Total Manufacturing Costs Total Cost of Work in Process Raw Materials Purchases Raw Materials Inventory, Beginning