MPA Ventures. had the following activities during its most recent period of operations:

(a) Purchased raw materials on account for $155,000 (both direct and indirect materials are recorded in the Raw Materials Inventory account).

(b) Issued raw materials to production of $160,000 (75% direct and 25% indirect).

(c) Incurred and paid factory labor costs of $150,000 cash

(d) Incurred factory utilities costs of $30,000; this amount is still payable.