Tampa Office Equipment manufactures and sells metal shelving. Il began operations on January 1,2020. (Click the icon to view the costs incurred during 2020 (Click the icon to view the inventory data.) Revenues in 2020 were $484,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carred at the average unit manufacturing cost for 2020. Finished-goods inventory at December 31,2020 , was $26,000. Read the requirements. Tampa Office Equipment manufactures and selis metal shelving. It began operations on January 1,2020. (Click the icon to view the costs incurred during 2020.) (Click the icon to view the inventory data.) Revenues in 2020 were $484,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2020 . Finished-goods inventory at December 31,2020 , was \$26,000. Read the requirements. Requirement 1. Calculate direct materials imventory, total cost, December 31, 2020. Determine the formula, then calculate ending direct materials total cost. ]=Endingdirectmaterialstotalcost= Data table Inventory data are as follows: Production in 2020was 123,000 units. Two pounds of direct materials are used to make one unit of finished product. (Click the icon to view the costs incurred during 2020.) (Click the icon to view the inventory data.) Revenues in 2020 were $484,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2020 . Finished-goods inventory at December 31, 2020, was $26,000. Read the requirements. Requirement 1. Calculate direct materials inventory, total cost, December 31, 2020. Determine the formula, then calculate ending direct materials total cost. Requirements 1. Calculate direct materials inventory, total cost, December 31,2020 . 2. Calculate finished-goods inventory, total units, December 31, 2020 . 3. Calculate selling price in 2020. 4. Calculate operating income for 2020
