Beginning Finished Goods, January $1$$ $24,300$Beginning Raw Materials, January $135,700$Beginning Work in Process, January $1110,500$Direct Labor for the current year$275,500$Ending Finished Goods, December $3122,600$Ending Raw Materials, December $3140,350$Ending Work in Process, December $31120,800$Material Purchases for the current year $($including $$16,000$ of indirect material$)304,400$Required:Compute direct material used.Compute applied overhead if the company applies overhead at a rate of $0\mathrm{.}77(77\%)$ of direct labor cost.Compute total manufacturing cost.Compute cost of goods manufactured.Compute cost of goods sold.