Question: Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 56,000 Work-in-process inventory, December 31, 20x8 61,500 Conversion costs during the year 428,000

Peyton Manufacturing has the following data: Work-in-process inventory, January 1, 20x8 $ 56,000 Work-in-process inventory, December 31, 20x8 61,500 Conversion costs during the year 428,000 If the cost of goods manufactured for the year was $590,000, what was the amount of direct materials used during the year?

$167,500.
$75,500.
$162,000.
$184,500.
None of the answers is correct.

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