the following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year. Sales $880 Raw materials in inventory, beginning: $20 Raw materials inventory, ending: $30 Purchases of raw materials: $160 Direct labor: $180 Manufacturing overhead: $230 Administrative expenses $100 Selling expenses: $130 Work in process inventory, beginning: $80 Work in process inventory, ending: $30 Finished goods in inventory, beginning: $120 Finished goods in inventory, ending: $100 The cost of goods manufactured (finished) for the year (in thousands of dollars) was: $610 $600 $500 $630
the following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year. Sales $880 Raw materials in inventory, beginning: $20 Raw materials inventory, ending: $30 Purchases of raw materials: $160 Direct labor: $180 Manufacturing overhead: $230 Administrative expenses $100 Selling expenses: $130 Work in process inventory, beginning: $80 Work in process inventory, ending: $30 Finished goods in inventory, beginning: $120 Finished goods in inventory, ending: $100 The cost of goods manufactured (finished) for the year (in thousands of dollars) was: $610 $600 $500 $630
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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the following data (in thousands of dollars) have been taken from the accounting records of Karstone Corporatino for the just completed year.
Sales $880
Raw materials in inventory, beginning: $20
Raw materials inventory, ending: $30
Purchases of raw materials: $160
Direct labor: $180
Manufacturing
Administrative expenses $100
Selling expenses: $130
Work in process inventory, beginning: $80
Work in process inventory, ending: $30
Finished goods in inventory, beginning: $120
Finished goods in inventory, ending: $100
The cost of goods manufactured (finished) for the year (in thousands of dollars) was:
$610
$600
$500
$630
Show work/calculation
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