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The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just-completed year.
Sales
$910
Raw materials, inventory, beginning
$80
Raw materials, inventory, ending
$20
Purchases of raw materials
$100
Direct labor
$130
Manufacturing overhead
$200
Administrative expenses
$160
Selling expenses
$140
Work in process inventory, beginning
$40
Work in process inventory, ending
$10
Finished goods inventory, beginning
Finished goods inventory, ending
$150
The cost of goods sold for the year (in thousands of dollars) was
The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inven..
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