The following data is from Chase Corporation's accounting records for the year ended 2019:

Sales $930,000

Raw material inventory starting at $70,000

Raw material inventory ending in $40,000

Raw Materials buys $190,000

Direct labor $150,000

Production overhead $210,000

Administrative expenses $95,000

Sales expenses $120,000

Work in process inventory starting at $80,000

Work in transaction inventory, ending in $75,000

Finished goods inventory starting at $90,000

Finished product inventory ending at $140,000

Use the data to answer the following questions

What was the cost of the raw materials used in production during the year?

What was the cost of goods produced (finished) for the year?

1. What was the cost of goods sold during the year?

Answer rating: 100% (QA)

To answer the questions well calculate the relevant costs using the given data 1 Cost of Raw Materia... View the full answer