Koufax Materials Corporation produces plastic products for home appliances and electronics. The financial department has produced the following information for the year ended December 31. Administrative salaries Depreciation on the administrative building Depreciation on the manufacturing plant Direct labor Direct materials inventory, January 1 Direct materials inventory, December 31. Direct materials purchased during the year Distribution costs $ 2,627,000 1,144,000 1,752,000 4,694,500 1,071,200 1,237,000 8,958,000 659,000 Finished goods inventory, January 1 1,644,000 Finished goods inventory, December 31 Indirect labor 1,371,500 544,000 Insurance (on manufacturing plant) 55,200 Legal fees 498,300 Maintenance (on the manufacturing plant) 217,400 Manufacturing plant utiities. 786,100 Marketing costs 751,250 Other manufacturing plant costs 632,880 Sales revenue Taxes (on manufacturing plant and property) Work-in-process inventory, January 1 Work-in-process inventory, December 31 22,656,920 217,600 405,250 398,700