Problem 1)

REVISED CHAPTER ONE HOMEWORK-SET THREE STUDENT COPY 1. Using the following data for February, calculate the cost of goods manufactured: Direct materials 36.000 Direct labor 20.000 Manufacturing overhead 19.000 Beginning work in process inventory $10,000 Ending work in process inventory 13,000 The cost of goods manufactured was: A) $78,000 B) $85,000 C) $72,000 D) $75,000 Calculation: Use the following information to answer questions 2 through 5: The following data (in thousands of dollars) have been taken from the accounting records of Karsten Corporation for the just completed year. 990 $70 Raw materials inventory, beginning. Raw materi invento ending 30 100 Purchases of raw materials $200 Direct labor $160 Manufacturing overhead 180 Administrative expenses 150 Sellin expenses in Work in process inventory, ending Finished goods invento beginning 150 $130 Finished goods inventory, ending Use these data to answer the following series of questions