Tulsa Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2020. (Click the icon to view the costs incurred during 2020.) (Click the icon to view the inventory data) Revenues in 2020 were $540,000. The selling price per unit and the purchase price per pound of direct materials were stable throughout the year. The company's ending inventory of finished goods is carried at the average unit manufacturing cost for 2020. Finished-goods inventory at December 31, 2020, was $23,000. Read the requirements. Requirement 1. Calculate direct materials inventory, total cost, December 31, 2020. Determine the formula, then calculate ending direct materials total cost. Ending direct materials in pounds 2,400 Direct materials cost per pound 0.65 Ending direct materials total cost- 1,560 Requirement 2. Calculate finished-goods inventory, total units, December 31, 2020. Before we calculate the units for ending finished goods, we will first calculate the total cost of goods manufactured. (If an input field is not used in the table, leave the input field empty; do not enter a zero.) Manufacturing costs for 110,000 units Variable Fixed Total Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Other indirect manufacturing costs Cost of goods manufactured Equipment manufactures and sells metal shelving. It began operations on January 1, 2020. me icon to view 2020 were Data table the average quirements. Costs incurred for 2020 are as follows (V stands for variable; F stands for fixed): Direct materials used $143,000 V nt 1. Calculat Direct manufacturing labor costs $37,500 V The formula, th Plant energy costs $5,500 V Indirect manufacturing labor costs $12,000 V Indirect manufacturing labor costs $17,000 F Other indirect manufacturing costs $13,000 V Other indirect manufacturing costs $25,000 F Marketing, distribution, and customer-service costs $121,000 V Marketing, distribution, and customer-service costs $50,000 F Administrative costs $57,000 F Variable manufacturing costs are variable with respect to units produced. Variable marketing, distribution, and customer-service costs are variable with respect to units sold. Print Done - X throughout the yea Data table Inventory data are as follows: Beginning: January Ending: December 1, 2020 Direct materials Work in process Finished goods 31, 2020 0 lb 2,400 lbs O units O units 0 units ? units Production in 2020 was 110,000 units. Two pounds of direct materials are used to make one unit of finished product. Print Done -