The following balances are extract from Star Company's records for the year 2020.

Raw materials, January 1, 2020..................................$ 20,000

Raw materials, December 31, 2020..............................$ ?

Work in process, January 1, 2020...............................$ 35,000

Work in process, December 31, 2020............................$ 25,800

Finished goods, January 1, 2020 (4,500 units) ................$ 112,500

Finished goods, December 31, 2020 (1,000 units) ............$ ?

Supplies, January 1, 2020...........................................$ 5,000

Supplies, December 31, 2020.......................................$ 3,000

Raw materials, purchases...........................................$ 220,000

Supplies purchases....................................................$ 18,000

Sales revenues (18,500 units sold) ..................................$ 925,000

Sales discount..........................................................$ 2,000

Delivery expense on sales............................................$ 40,000

Utilities..................................................................$ 20,000

Insurance expense....................................................$ 30,000

Depreciation expenses................................................$ 18,750

Advertising............................................................$ 12,000

Sales and administrative salaries.................................$ 80,000

Factory salaries and wages (of which $ 9,000 are indirect

salaries and wages) .............................................$ 225,000

Fringe benefits.........................................................$ 68,000

Other manufacturing overheads....................................$ 4,000

Other sales and administrative expenses.....................$ 18,500

Other data for the year 2020:

a.Indirect materials used of the year amounted to $18,000.

b.Some 80% of the utilities cost and 75% of the supplies used apply to factory operations.The remaining amounts apply to selling and administrative activities.

c.Depreciation expense is for production operation at 80%, the remaining a mounts apply to period cost.

d.The company allocated insurance expense according to the proportion of spaces occupied by each activity.

Activity

Spaces occupied

Production

10,000 square metre

Sales & administrative

5,000 square metre

e.The factory salaries and wages ($ 225,000), direct labor wages of the units produced is based on a total of 6,800 labor hours worked in the year, of which 200 labor hours were idle time.The company's normal hours for labor is 6,000 hours for the year at the rate of $ 30 per hour, overtime is paid at one time and a half of the normal rate.

f.Only 60% of the fringe benefits applies to factory operations, the remainder applies to selling and administrative activities.

g.The factory fringe benefits of data (f) is computed from total hours worked of the year at $6 per hour.The company treats that part of fringe benefits relating to direct labor as added direct labor cost, the remainder is for manufacturing overhead.

h.Prime cost of the year amounted to $444,600.

i.Firs-in, First-out (FIFO) inventory system is used.

Required :Using the above given data, answer the following.This is computer check, please follow strictly the following: