Presented below is selected information from the Kudlick Company’s current period accounting records (in $000s):

Sales $25,000 Raw Materials Used 5,500 Direct Labor Costs 2,000 Period Costs (Selling and Administrative) 5,000 Beginning Raw Material Inventory 600 Ending Raw Material Inventory 2,000 Net Income 600 Beginning Work-in-Process Inventory 0 Ending Work-in-Process Inventory 600 Beginning Finished Goods Inventory 1400 Ending Finished Goods Inventory 800

* NOTE: All raw materials used were direct materials. Required:

Determine the following (in dollars): a. Raw Material Purchases b. Gross Profit c. Cost of Goods Manufactured d. Manufacturing Overhead

Answer rating: 100% (QA)

Lets calculate the required values step by step a Raw Material Purchases Raw Material Purchases Raw ... View the full answer