Part One: In 2015, Penny Snyder opened Penny's Posies, a small retail shop selling floral arrangements Part Two: Penny's Posies was so successful that Penny decided to manufacture her own brand of floral supplies: Floral Place Manufacturing P ap EEB (Click the icon to view the records.) EE (Click the icon to view the records.) Read the requirement (Part One) Read the requirements (Part Two). $ 7,300 Operating income Part Two: Requirement 1. Calculate the Cost of Goods Manufactured for Floral Place Manufacturing for the year ended December 31, 2017 Begin by calculating the direct materials used during the year Floral Place Manufacturing Calculation of Direct Materials Used For the Year Ended December 31, 2017 Beginning raw materials inventory 12,000 36500 Purchases of direct materials Plus: Materials available for use 48500 6,500 Ending raw materials inventory Less: 42000 Direct materials used s Man d duri x sorry, that's not correct. Manu The purchases amount is incorrect. Refer to the information given in the problem rect M and please try again d Dec OK 48500 Manufacturing (Click Data Table 1 On December 31, 2016, her accounting records show the following: 2017 Sales revenue. $58,000 Utilities for shop nventory on December 31, 20169,900 Inventory on January 1, 2016 0 $4,600 $ 36,500 Purchases of merchandise ... Print Done (Click the i At the end of December 2017, her accounting records show the following $ 5,000 Utilities for plant Deivery espense.3200 $ 4,200 1,000 Plant janitorial services .... $2,500 Work in process inventory, December 31, 2017 Finished goods inventory, December 31, 2016 Finished goods inventory, December 31, 2017 .... $5,000 $ 106,000 Customer service hotline expense . . . . . .$1,200 Direct labor $ 9,600 Raw materials inventory, December 31, 2016 . . . .$ 12,000 6 500