Inventory balances for other financial data for et products are as follows:
Inventories December 31,2010 December 31,2011
Direct Materials 3,000 2,400
WIP 3,500 2,000
Finished Goods 10,000 5,000
Other Data:
Direct Materials purchased on credit 6,000
Direct Labor 5,000
Overhead 7,000
Selling Costs 2,000
General and Administrative Costs 5,000
Sales 50,000
Calculate Total Manufacturing Cost for the year