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Question - Kid Gloves Manufacturing reports the following information for the year. Determine the cost of finished goods manufactured.
Work in process 1 January $7,000
Work in process 31 December 10,000
Finished goods inventory 1 January 5,000
Finished goods inventory 31 December 6,000
Direct materials used 3,000
Direct labour 2,000
Factory overhead 2,000
Selling expenses 3,000
General and administrative expenses 4,000
a. $4000
b. $3000
c. $5000
d. $6000
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