P16-30A (similar to) Question Help Happy Feet Shoe Company maxes loafers. During the most recent year, Happy Feet incurred total manufacturing costs of $18,200.000. Of the amount. $3,200,000 wes direct materials used and $10,800,000 was direct labor. Beginning balances for the year were Direct Materials, S900,000; Work-in-Process Inventory, $600,000; and Finished Goods Inventory. $800,000. At the end of the year balances were Direct Merterials, $500,000; Work-in-Process Inventory, $1,400,000, and Finished Goods Inventory S290,000. Read the requirements Requirement 1. Analyze the inventory accounts to determine the cost of direct materials purchased during the year, Direct Materials Direct Materials Used Beginning Direct Materials Ending Direct Materials Purchases Requirements Analyze the inventory accounts to determine: 1. Cost of direct materials purchased during the year. 2. Cost of goods manufactured for the year 3. Cost of goods sold for the year, Print Done