Required information [The following information applies to the questions displayed below.] The following data refer to San Fernando Fashions Company for the year 20x2: Sales revenue $1,000,000 Work-in-process inventory, December 31 Work-in-process inventory, January 1 Selling and administrative expenses 30,000 36,000 150,000 Income tax expense 70,000 Purchases of raw material 170,000 Raw-material inventory, December 31 25,000 Raw-material inventory, January 1 Direct labor 20,000 190,000 Utilities: plant 40,000 Depreciation: plant and equipment 40,000 Finished-goods inventory, December 31 50,000 Finished-goods inventory, January 1 Indirect material 15,000 8,000 Indirect labor Other manufacturing overhead 12,000 60,000