San Diego Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. (Click the icon to view the costs incurred during 2017.) (Click the icon to view the inventory data.) Revenues in 2017 were $442,750. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2017. Finished-goods inventory at December 31, 2017, was $22,400. Read the requirements. 11 Requirement Calculate direct materials inventory, total cost, December 31, 2017. Determine the formula, then calculate ending direct materials total cost. Ending direct materials total cost Requirements 1. Calculate direct materials inventory, total cost, December 31, 2017 2.Calculate finished-goods inventory, total units, December 31, 2017. Calculate selling price in 2017. 4. Calculate operating income for 2017. Print Done Data Table Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used $144,500 V Direct manufacturing labor costs $24,500 V Plant energy costs $7,000 V Indirect manufacturing labor costs $17,000 V Indirect manufacturing labor costs $12,000 F Other indirect manufacturing costs $6,000 V Other indirect manufacturing costs $27,000 F Marketing, distribution, and customer-service costs $130,000 V Marketing, distribution, and customer-service costs $50,000 F Administrative costs $60,000 F Variable manufacturing costs are variable with respect to units produced. Variable marketing, distribution, and customer-service costs are variable with respect to units sold. Print Done Data Table Inventory data are as follows: Beginning: January 1, 2017 O lb Ending: December 31, 2017 2,200 lbs Direct materials Work in process O units O units Finished goods O units ? units Production in 2017 was 106,250 units. Two pounds of direct materials are used to make one unit of finished product