Beginning Ending
Raw material... $142,000 $162,000
Work in process... 160,000 60,000
Finished goods... 180,000 220,000
Other data:
Direct material used... $652,000
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)... 1,372,000
Cost of goods available for sale... 1,652,000
Selling and administrative expenses... 63,000
Required:
1. What was the cost of raw materials purchased during the year
2. What was the direct-labor cost charged to production during the year?
3. What was the cost of goods manufactured during the year?
4. What was the cost of goods sold during the year?