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Moving to another question will save this response. Question 2 of Save stion 2 17 5 points Wally Widgets Company is a manufacturer of innovative technological personal products. The Vice President of Manufacturing, Wima Wally, has requested financial data including a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. She wants to know how the manufacturing operations are impacting the companies francial statements You have collected the following information related to the most recent operating cycle December 31, 2019 December 31, 2020 Raw Materials inventory $ 84,500 $ 88,400 Work In Process Inventory 6.950 5,700 Finished Goods Inventory 65,000 78.700 You have collected the following information related to the most recent operating cycle. December 31, 2019 December 31, 2020 Raw Materials Inventory $ 84,500 $ 88,400 Work In Process Inventory 6,950 5,700 Finished Goods Inventory 65,000 78,700 Direct Labor Direct Materials Purchases Indirect Labor Indirect Materials Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Plant Manager's Salary Rent on Office Equipment . Factory Property Taxes Factory Repair Cash Sales Commissions Cost Incurred during 2020 $ 165,600 197,600 15,400 7,800 72,000 4,700 10,700 21,900 26,000 574,500 45,000 15,700 9,600 4,100 49,200 114,900 2,400 Office Supplies The company applies overhead using direct labor hours. For the current year, estimated direct labor hours are 9,500 and estimated factory overhead is $61,750 What is amount of Direct Materials Used? What is the total Manufacturing Overhead? What is the Total Manufacturing Cost? What is the Cost of Goods Manufactured? What is the Cost of Goods Sold? What is the Gross Margin reported on the Income Statement? What is the total Inventory reported on the Balance Sheet? Moving to another question will save this response. Question 2 of Save stion 2 17 5 points Wally Widgets Company is a manufacturer of innovative technological personal products. The Vice President of Manufacturing, Wima Wally, has requested financial data including a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold. She wants to know how the manufacturing operations are impacting the companies francial statements You have collected the following information related to the most recent operating cycle December 31, 2019 December 31, 2020 Raw Materials inventory $ 84,500 $ 88,400 Work In Process Inventory 6.950 5,700 Finished Goods Inventory 65,000 78.700 You have collected the following information related to the most recent operating cycle. December 31, 2019 December 31, 2020 Raw Materials Inventory $ 84,500 $ 88,400 Work In Process Inventory 6,950 5,700 Finished Goods Inventory 65,000 78,700 Direct Labor Direct Materials Purchases Indirect Labor Indirect Materials Accounts Receivable Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Plant Manager's Salary Rent on Office Equipment . Factory Property Taxes Factory Repair Cash Sales Commissions Cost Incurred during 2020 $ 165,600 197,600 15,400 7,800 72,000 4,700 10,700 21,900 26,000 574,500 45,000 15,700 9,600 4,100 49,200 114,900 2,400 Office Supplies The company applies overhead using direct labor hours. For the current year, estimated direct labor hours are 9,500 and estimated factory overhead is $61,750 What is amount of Direct Materials Used? What is the total Manufacturing Overhead? What is the Total Manufacturing Cost? What is the Cost of Goods Manufactured? What is the Cost of Goods Sold? What is the Gross Margin reported on the Income Statement? What is the total Inventory reported on the Balance Sheet