Page 1 > of 2 ZOOM 10) Net Income Problem 2 The following data is available for Justin Corporation for the year ending December 31, 2020: Inventories Materials Work in process Finished Goods Direct labor cost Materials Purchased Factory Overhead applied at 150% of Direct labor cost 1. Direct materials used 2. Total manufacturing cost 3. Cost of goods manufactured 4. Cost of goods sold January 1 P120,000 P190,000 P102,000. P300,000 P380,000 December 31 P180,000 P158,000 P130,000