Manitoba Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2019 (Click the icon to view the costs incurred during 2019.) (Click the icon to view the inventory data.) Revenues in 2019 were $540,000. The selling price per unit and the purchase price per kilogram of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing costs for 2019. Finished goods inventory at December 31, 2019, was $23,000. Required - X Costs incurred Requirement 1. Calculate direct materials inventory, total cost, December 31, 2019 Determine the formula to calculate the total cost of direct materials inventory at December 31, 2019 Costs incurred for 2019 are as follows (V stands for variable: F stands for fixed); x ]= Ending direct materials total cost Direct materials used costs $ 143,000 V Direct manufacturing labour costs 48,000 V Inventory data Plant energy costs 2,000 V Indirect manufacturing labour costs 12,000 V Inventory data are as follows: Indirect manufacturing labour costs 18,000 F Beginning, Ending Other indirect manufacturing costs 6.000 V January 1, 2019 December 31, 2019 Other indirect manufacturing costs 24,000 F Direct materials Marketing, distribution, and customer-service costs 125,000 V 0 kilograms 2,100 kilograms Work in process O units O units Marketing, distribution, and customer-service costs 45,000 F Finished goods Administrative costs O units 51,000 F ? units Production in 2019 was 110,000 units. Two kilograms of direct Variable manufacturing costs are variable with respect to units produced. materials is used to make one unit of finished product. Variable marketing, distribution, and customer-service costs are variable with respect to unils sold. Print Print Done Print Done Manitoba Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2019 (Click the icon to view the costs incurred during 2019.) (Click the icon to view the inventory data.) Revenues in 2019 were $540,000. The selling price per unit and the purchase price per kilogram of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing costs for 2019. Finished goods inventory at December 31, 2019, was $23,000. Required - X Costs incurred Requirement 1. Calculate direct materials inventory, total cost, December 31, 2019 Determine the formula to calculate the total cost of direct materials inventory at December 31, 2019 Costs incurred for 2019 are as follows (V stands for variable: F stands for fixed); x ]= Ending direct materials total cost Direct materials used costs $ 143,000 V Direct manufacturing labour costs 48,000 V Inventory data Plant energy costs 2,000 V Indirect manufacturing labour costs 12,000 V Inventory data are as follows: Indirect manufacturing labour costs 18,000 F Beginning, Ending Other indirect manufacturing costs 6.000 V January 1, 2019 December 31, 2019 Other indirect manufacturing costs 24,000 F Direct materials Marketing, distribution, and customer-service costs 125,000 V 0 kilograms 2,100 kilograms Work in process O units O units Marketing, distribution, and customer-service costs 45,000 F Finished goods Administrative costs O units 51,000 F ? units Production in 2019 was 110,000 units. Two kilograms of direct Variable manufacturing costs are variable with respect to units produced. materials is used to make one unit of finished product. Variable marketing, distribution, and customer-service costs are variable with respect to unils sold. Print Print Done Print Done