Question Two: Rosebud Manufacturing uses actual costing. The following events took place during the current year: (1) Purchased $95,000 in direct materials. (2) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600. (3) Other manufacturing overhead was $107,000, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. Required: (a) Determine the ending Direct Materials Inventory balance. (b) Determine the ending Work-in-Process Inventory balance. (c) Determine the ending Finished Goods Inventory balance. (d) Determine the Cost of Goods Manufactured.