Required information [The following information applies to the questions displayed below.] Selected data concerning the past year's operations of the Ozarks Manufacturing Company are as follows: Inventories Beginning Ending Raw material $61,000 $ 81,000 Work in process 80,000 Finished goods 90,000 30,000 120,000 Other data: Direct material used Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct- labor cost) Cost of goods available for sale Selling and administrative expenses $326,000 686,000 826,000 30,500