Question 16 Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,150 Direct materials used 254,800 Work in process (1/1/2020) 31,800 Work in process (12/31/2020) 26,900 Finished goods (1/1/2020) 35,300 Finished goods (12/31/2020) 28,600 Factory utilities 40,200 Depreciation, factory equipment 34,400 Direct labour 300,700 Indirect materials 23,000 Factory manager's salary 63,200 Selling and administrative expenses 343,800 Net sales 1,249,000 Factory machinery rent 42,700