Selected data concerning the past year’s operations of the Del Valle Manufacturing Company are as follows:

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?

Transcribed Image Text:

Raw material Work in process Finished goods Other data: Direct material used 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) Cost of goods available for sale. Selling and administrative expenses Beginning $71,000 80,000 90,000 Inventories Ending $ 81,000 30,000 110,000 $326,000 686,000 826,000 31,500