The following costs and inventory data were taken from the accounts of Simon Company for 2019: January 1, 2019 December 31, 2019 Inventories: Raw materials $ 8,000 $ 7,000. Work in process 15,000 13,000 Finished goods 16,000 12,000 Costs incurred: Raw materials purchases $ 98,000 Direct labor 42,000 Factory rent 8,000 Factory utilities 10,000 Indirect materials 6,000 Indirect labor 9,000 Operating expenses 17,000