2-43. Basic Concepts The following data refer to one year for Monroe Fabricators. Fill in the blanks. Direct materials inventory, January 1 $ 7,800 Direct materials inventory, December 31 a. ________ Work-in-process inventory, January 1 8,100 Work-in-process inventory, December 31 11,400 Finished goods inventory, January 1 5,700 Finished goods inventory, December 31 900 Purchases of direct materials 48,300 Cost of goods manufactured during the year 163,350 Total manufacturing costs b. ________ Cost of goods sold 168,150 Gross margin 147,750 Direct labor c. ________ Direct materials used 43,800 Manufacturing overhead 41,400 Sales revenue d. ________

please write 3-4 sentences interpreting the result of the solution provided.