Question 16 Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,060 Direct materials used 250,000 Work in process (1/1/2020) 31,500 Work in process (12/31/2020) 27,900 Finished goods (1/1/2020) 35,400 Finished goods (12/31/2020) 29,100 Factory utilities 40,500 Depreciation, factory equipment 34,500 Direct labour Indirect materials 302,300 22,300 Factory manager's salary Selling and administrative expenses 63,100 342,800 Net sales Factory machinery rent 1,233,000 42,900