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The following data are taken from the general ledger and other records of Black Hills Manufacturing Co. on January 31, the end of the first month of operations in the current fiscal year:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $75,000Materials inventory (January 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25,000Work in process inventory (January 1) . . . . . . . . . . . . . . . . . . . . . . 24,000Finished goods inventory (January 1) . . . . . . . . . . . . . . . . . . . . . . . 32,000Materials purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,000Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000Factory overhead (including $1,000 of indirect materials used and$3,000 of indirect labor cost) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000Selling and administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . 10,000Inventories at January 31:Materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,000Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000
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