Return to question 9 2.5 points Billy Bob's Manufacturing had the following data for the fiscal year ended December 31. Direct Materials Inventory, January 1 Direct materials purchases Direct materials used $ 30,000 350,000 345,000 Fixed factory overhead 480,000 Total factory overhead 560,000 04:12:53 Total manufacturing costs 1,085,000 Work-in-Process Inventory, January 1 Work-in-Process Inventory, December 31 Finished Goods Inventory, January 1 Goods available for sale Cost of goods sold 42,000 45,000 36,000 1,076,000 1,043,000 Required: Calculate the following costs: Answer is complete but not entirely correct. 1. Direct Materials Inventory on December 31. $ 35,000 2. Direct labor costs for the year. $ 180,000 3. Variable factory overhead costs for the year. $ 80,000 4. Cost of goods manufactured for the year. $ 1,082,000 5. Finished Goods Inventory on December 31. $ 33,000