Accounting for managers

Use the below information to answer the following FIVE questions (numbered 4 through 8). The information given below was reported by Elin Company last year. Inventories Raw Materials Work-in-Process Finished Goods Beginning $74,000 $37,000 $75,000 Ending $53,000 $44,000 $60,000 Additional Information Administrative Expenses Direct Labor Manufacturing Overhead Purchases of Raw Materials Sales $77,000 $72,000 $151,000 $80,000 $510,000 Selling Expenses $48,000 4. What was the amount of raw materials used in production during the year? $101.000 $151,000 $324,000 $938,000 None of the above 5. What was the amount of cost of goods manufactured? $144,000 $216,000 $317,000 $324,000 None of the above 6. What was the amount of cost of goods sold? $231,000 $310,000 $317,000 ARARA 3334,UUU None of the above 7. What was the amount of total work-in-process?* $81,000 $260,000 $361,000 $368,000 None of the above 8. What was the amount of gross profit?* $53,000 O $178,000 $193,000 $385,000 O None of the above