P2-45 (similar to) Houston 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 $491,400. The selling price per unit and the purchase price per pound of direct materials were stablo cost for 2017. Finished-goods inventory at December 31, 2017, was $20,970. Read the requirements. Requirement 1. Calculate direct materials inventory, total cost, December 31, 2017 Determine the formula, then calculate ending direct materials total cost. = Ending direct materials total cost i Requirements 1. Calculate direct materials inventory, total cost, December 31, 2017 2. Calculate finished-goods inventory, total units, December 31, 2017 3. Calculate selling price in 2017. 4.Calculate operating income for 2017 CUI 20 Data Table Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): 1