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Extra Practice #1-Job Order Costing o Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Ex Pie Direct materials Direct labor Variable overhead Fixed overhead pry Pr S 60,000 S 25,000 $220,000 Next year, Pietro expects to purchase S119,300 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows Work-in-Process Inventory 12,500 14,600 Direct Materials Inventory Beginning Ending S 5,600 $ 4,900 $ Pietro expects to produce 50,000 units and sell 49,300 units at a price of $12.50 each. Beginning inventory of finished goods is S42,500, and ending inventory of finished goods is expected to be $34,000. Total selling expense actual and applied manufacturing overhead. Required 1. What is the cost of direct materials used in production for the year? 2. What is the total cost of goods manufactured for the year? 3. What is cost of goods sold for the year? 4. How much selling & administrative cost was incurred for the year? 5. What was operating income for the year