The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year. Sales $800 Raw materials inventory, beginning $60 Raw materials inventory, ending $70 Purchases of raw materials $180 Direct labour $ 100 Manufacturing overhead $190 Administrative expenses $110 Selling expenses $150 Work in process inventory, beginning $70 Work i process inventory, ending $80 Finished goods inventory, beginning $120 Finished goods inventory, ending $160 The cost of the raw materials used in production during the year (in thousands of dollars) was: Multiple Choice $170. $190. $240. $250.
The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year. Sales $800 Raw materials inventory, beginning $60 Raw materials inventory, ending $70 Purchases of raw materials $180 Direct labour $ 100 Manufacturing overhead $190 Administrative expenses $110 Selling expenses $150 Work in process inventory, beginning $70 Work i process inventory, ending $80 Finished goods inventory, beginning $120 Finished goods inventory, ending $160 The cost of the raw materials used in production during the year (in thousands of dollars) was: Multiple Choice $170. $190. $240. $250.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following data (in thousands of dollars) have been taken from the accounting records of Karlist Corporation for the just completed year.
Sales $800 Raw materials inventory, beginning $60 Raw materials inventory, ending $70 Purchases of raw materials $180 Direct labour $
100 Manufacturing overhead $190 Administrative expenses $110 Selling expenses $150 Work in process inventory, beginning $70 Work i
process inventory, ending $80 Finished goods inventory, beginning $120 Finished goods inventory, ending $160 The cost of the raw
materials used in production during the year (in thousands of dollars) was: Multiple Choice $170. $190. $240. $250.
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