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Information for Lori Ann, Inc. as of December 31, 2012 follows:
Raw material inventory, 12/31/11 $ 50,000 Indirect labor $12,000
Raw materials inventory, 12/31/12 74,000 Raw materials purchases 150,000
Work in process inventory, 12/31/12 2,700 Indirect materials 2,000
Work in process inventory, 12/31/11 3,500 Factory utilities 14,000
Direct labor 68,000 Plant manager
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