Analyzing activity in inventory accounts

Reference no: EM13166373

Analyzing Activity in Inventory Accounts

Select data concerning operations of Cascade Manufacturing Company for the past fiscal year follow:

Raw materials used .. $300,000

Total manufacturing costs charged to production during the year (includes raw materials, direct labor, and manufacturing overhead applied at a rate of 60 percent of direct labor costs 680,000
Cost of goods available for sale 826,000
Selling and general expenses .. 30,000
Inventories
Beginning Ending
Raw materials $70,000 $80,000
Work in process $85,000 30,000
Finished goods . $90,000 110,000

Required

Determine each of the following:

a. Cost of raw materials purchased

b. Direct labor costs charged to production

c. Cost of goods manufactured

d. Cost of goods sold

Reference no: EM13166373

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