SELF-STUDY QUESTIONS 1. A review of accounts showed the following for Pacific Parts for last year. Administrative costs $1,216,000 Depreciation, manufacturing 412,000 Direct labor 1,928,000 Direct materials purchases 1,252,000 Direct materials inventory, January 1 408,000 Direct materials inventory, December 31 324,000 Finished goods inventory, January 1 640,000 Finished goods inventory, December 31 588,000 Heat, light, and power-plant 348,000 Marketing costs 1,088,000 Miscellaneous manufacturing costs 48,000 Plant maintenance and repairs 296,000 Sales revenue 8,144,000 Supervisory and indirect labor 508,000 Supplies and indirect materials 56,000 Work-in-process inventory, January 1 540,000 Work-in-process inventory, December 31 568,000 Prepare an income statement with a supporting cost of goods manufactured and sold statement. Refer to Exhibits 2.7 and 2.8. 2. Using the data from question 1, place dollar amounts in each box in Exhibit 2.4