Please solve each problem and show work as well as the formulas used for each problem

2) Expert Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2020 Purchases of direct materials Ending inventory of direct materials, December 31, 2020 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2020 Beginning inventory of work in process, January 1, 2020 Ending inventory of work in process, December 31, 2020 Ending inventory of finished goods, December 31, 2020 Operating costs $550,000 24,000 151,000 18,000 27,000 50,000 43,000 22,000 17,000 38,000 152,000 Required: Calculate the following: a) Cost of direct material used b) Cost of goods manufactured c) Cost of goods sold d) Operating income