Take me to the text Good Slings Inc. manufactures several wood and string instruments. In particular, it is well-known for its production of classic guitars. Assume that Good Slings uses a periodic inventory system and a physical count of inventory takes place at year end. The company accumulated the following costs and account balances for the year ended December 31, 2019 with respect to direct materials: Balance of materials on January 1, 2019 $244,000 Balance of materials on December 31, 2019 $144,000 Materials purchases during 2019 $713,000 In addition, the following table shows Good Slings' remaining costs for the year: Indirect materials $62,000 Direct labor $340,000 Indirect labor $137,000 Utilities, factory $52,000 Utilities, office $25,000 Insurance, factory $18,000 Advertising $21,000 Do not enter dollar signs or commas in the input boxes. a) Calculate the cost of direct materials used in production for the year. Materials used in production: $ X

Good Slings Inc. manufactures several wood and string instruments. In particular, it is well-known for its production of classic guitars. Assume that Good Slings uses a periodic inventory system and a physical count of inventory takes place at year end. The company accumulated the following costs and account balances for the year ended December 31,2019 with respect to direct materials: In addition, the following table shows Good Slings' remaining costs for the year: Do not enter dollar signs or commas in the input boxes. a) Calculate the cost of direct materials used in production for the year. Materials used in production: $