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Please show work: LeanNMean Manufacturing uses just-in-time inventory techniques to reduce their carrying costs. Despite having a low level of working capital, they experience significant

Please show work:

LeanNMean Manufacturing uses just-in-time inventory techniques to reduce their carrying costs. Despite having a low level of working capital, they experience significant sales and production levels. LeanNMean reported the following information at year-end:

Beginning Materials Inventory $ 2,000 Indirect Materials Used $ 8,000
Ending Materials Inventory 2,400 Direct Labor 288,000
Beginning Work in Process 16,000 Indirect Labor 390,000
Ending Work in Process 8,000 Factory Depreciation 20,000
Beginning Finished Goods Inventory 4,800 Factory Maintenance 12,000
Ending Finished Goods Inventory 3,000 Factory Utilities 32,000
Cost of Materials Purchased 320,000 Selling & Administrative Expense 656,000

Instructions: Compute each of the following amounts, showing all work for partial credit

1.Direct material used

2. Total manufacturing overhead

3. Total manufacturing costs

4. Cost of goods manufactured

5. Cost of goods sold

6. Prime cost

7. Conversion cost

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