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Homework: 1-2 MyAccountingLab: Module One Homework Score: 0 of 17 pts P2-40 (similar to) 1 2of3(200mplete)v > Denver Ofce Equipment manufactures and sells metal shelvmg, It began operations on January 1, 2014, a (Click the icon to View the costs incurred during 2014.) E (Click the icon to view the inventory data.) HW Score: 52%, 31 of 50 p' i. Question Help { Revenues In 2014were $484,000 The selling price per unit and the purchase pnce perpound of direct materials were stable throughout the year The company's ending inventory of nished goods is carried at the average unit manufaclunng oost for 2014 Finishedgoods inventory at December 31, 2014, was $26,000 Requirements 1. Calculate direct rnatenals inventory, total cost, December 31, 2014, 2. Calculate nishedgoods inventory, total units, December 31, 2014, 3. Calculate selling price in 2014. 4. Calculate operahng income for 2014, Requirement 1. Calculate direct materials inventory, total cost, December 31, 2014 Determine the formula, then calculate ending direct materials total cost V x Ending direct materials total cost x Choose from any list or enter any number in the input elds and then click Check Ans 0 Data Table - Inventory data are as follows: Beginning: Ending: January 1, 2014 December 31, 2014 Direct materials 0 lb 2,200 lbs Work in process 0 units 0 units Finished goods 0 units '7 units Produdmn in 2014 was 123,000 units Two pounds of direct materials are used to make one unit of nished product, i 0 Data Table Costs incurred for 2014 are as follows (V s1ands for variable, F stands for fixed). Direct materials used $ 147,600 Direct manufacturing labor costs 40,400 Plant energy costs 2,000 lndirecl manufacturing labor costs 15,000 lndirec1 manufacturing labor costs 13,000 Other indirect manufacturing costs 0,000 Other indirect manufariuring costs 20,000 Marketing, distribution, and customer'service costs 121,000 Marketing, distribution, and customer-service costs 49,000 Administrative cosls 50,000 Variable manufacturing oosts are variable With respect to units produced Variable marketing, dislnbutmn, and customeresewice msls are variahlei respect to units sold Print Done