Selected data concerning the past years operations of the Ozarks Manufacturing Company are as follows: Inventories Beginning
Fantastic news! We've Found the answer you've been seeking!
Question:
Selected data concerning the past year’s operations of the Ozarks Manufacturing Company are as follows:
Inventories | ||||||
Beginning | Ending | |||||
Raw material | $ | 51,000 | $ | 81,000 | ||
Work in process | 80,000 | 30,000 | ||||
Finished goods | 90,000 | 110,000 | ||||
Other data:
Direct material used | $ | 318,000 | |
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 | 30,500 | ||
Required:
1. What was the cost of raw materials purchased during the year?
Related Book For
Posted Date: