Question

A. The cost of the raw materials used in production during the year:  

B. The cost of goods manufactured for the year:

C. The cost of goods sold for the year:

D. The net income for the year:

Finished goods inventory, beginning	$240
Finished goods inventory, ending	320
Raw materials inventory, beginning	80
Raw materials inventory, ending	140
Work in process inventory, beginning	140
Work in process inventory, ending	100
Administrative expenses	300
Direct labor	400
Manufacturing overhead applied	460
Purchases of raw materials	240
Sales	1,980
Selling expenses	280

Answer 1

240 Diaect Materiali :- Begning raw materials inventory Add: Peschase raw materials : Ending raw material investory Raw materials used in procluation less : 140 180 Direct labous 400 460 1040 Add: 140 Manugattuning overhead applied Total Manufacturing costs Begning WIP Inventory less : Ending WIP Inventory Cost Crocla Manyactured del: Beynning Finished Cool iruntoay Eneling Finished goods inventory 100 of 1080 040 les : Cood of Goods sold 1000

Above A,B,C answers

D.

1980 1000 980 Sales les; Cost of good sold Gross profit less Achm torstaat ive erepente Selling expense Net income 300 280 1. 400