Hoiberg Corporation Incurred the Following Costs Calculate the Following Values:
A

Essay

Hoiberg Corporation incurred the following costs:
$\begin{array}{llr} \text { Direct labour } &\$600,000\\ \text {Direct material purchases } &555,000\\ \text { Depreciation on plant } &30,000\\ \text { Factory supervisor's salary } &75,000\\ \text { Plant maintenance } &15,000\\ \text {Plant utilities } &27,000\\ \text {Sales } &1,950,000\\ \text { Selling and administrative expenses } &300,000\\ \text { Beginning direct materials inventory } &51,000\\ \text { Beginning work-in-process inventory } &24,000\\ \text {Beginning finished goods inventory } &54,000\\ \text { Ending direct materials inventory } &45,000\\ \text { Ending work in process} &39,000\\ \text { Ending finished goods } &72,000\\\end{array}$
Calculate the following values:
a.Direct materials used
b.Cost of goods manufactured
c.Cost of goods sold
d.Net income