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$5,000 $420 $510 $640 $670 $210 $250 Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory $420 Ending work in process inventory $500 Beginning finished goods inventory $250 Ending finished goods inventory $220 What was the cost of goods manufactured? a. $1,610 b. $1,390 c. $1,530 d. $1,450

$5,000 $420 $510 $640 $670 $210 $250 Sales revenue Purchases of direct materials Direct labor Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory Beginning work in process inventory $420 Ending work in process inventory $500 Beginning finished goods inventory $250 Ending finished goods inventory $220 What was the cost of goods manufactured? a. $1,610 b. $1,390 c. $1,530 d. $1,450

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sales revenue Purchases of direct materials Direct labor $5,000 $420 $510 $640 $670 $210 Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory $250 Beginning work in process inventory $420 Ending work in process inventory $500 Beginning finished goods inventory $250 Ending finished goods inventory $220 What was the cost of goods manufactured? a. $1,610 b. $1,390 c. $1,530 d. $1,450
Transcribed Image Text:Sales revenue Purchases of direct materials Direct labor $5,000 $420 $510 $640 $670 $210 Manufacturing overhead Operating expenses Beginning raw materials inventory Ending raw materials inventory $250 Beginning work in process inventory $420 Ending work in process inventory $500 Beginning finished goods inventory $250 Ending finished goods inventory $220 What was the cost of goods manufactured? a. $1,610 b. $1,390 c. $1,530 d. $1,450
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