Reference no: EM131784010

Question - Cost of Goods Manufactured

Presented below is selected information from the Greenville Company's current period accounting records (in $000s):

Sales $10,000

Raw Materials Used 2,500

Direct Labor Costs 1,000

Period Costs (Selling and Administrative) 2,500

Beginning Raw Material Inventory 300

Ending Raw Material Inventory 1,000

Net Income 200

Beginning Work-in-Process Inventory 0

Ending Work-in-Process Inventory 300

Beginning Finished Goods Inventory 700

Ending Finished Goods Inventory 400

* NOTE: All raw materials used were direct materials.

Required: Determine the following (in dollars):

a. Raw Material Purchases

b. Gross Profit

c. Cost of Goods Manufactured

d. Manufacturing Overhead