Selected data on last year's operations of the Ozarks Manufacturing Company are as follows:

		inventories
	Beginning			Finishing
Raw material	ps	51,000		ps	81,000
Work in progress		80.000			30,000
Finished products		90.000			110,000

Other data:

direct material used	ps	326,000
Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct labor cost)		686,000
Cost of goods available for sale		826,000
Selling and administrative expenses		30,000

Required:
1. What was the cost of raw materials purchased during the year?

2. What was the direct labor cost charged to production during the year?

3. What was the cost of goods manufactured during the year?

4. What was the cost of goods sold during the year?

Answer rating: 100% (QA)

Lets calculate the answers step by step 1 Cost of Raw Materials Purchased during the Year Raw Materi... View the full answer