Pharoah Corporation incurred the following costs while manufacturing its product: Materials used in product $120,500 Advertising expense $45,000 Depreciation on plant 64,600 Property taxes on plant 19,050 Property taxes on warehouse 7,680 Delivery expense 22,000 Labour costs of assembly-line workers 110,100 Sales commissions 35,450 Factory supplies used 25,600 Salaries paid to sales clerks 50,100 Work in process inventory was $10,900 at January 1 and $14,100 at December 31. Finished goods inventory was $60,600 at January 1 and $51,500 at December 31.