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What is jupiter cost of direct materials used during year

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Reference no: EM132598261

Jupiter Inc. had the following activities in the year:

Direct materials balance:

Beginning inventory              $100,000

Purchases                          308,000

Ending inventory                  52,000

Direct manufacturing labour    80,000

Manufacturing overhead         60,000

Ending work in process inventory 20,000

Beginning work in process inventory 4,000

Ending finished goods inventory 80,000

Beginning finished goods inventory 120,000

Answer the followings with explanations:

Question 1. What is Jupiter's cost of direct materials used during the year?

a. $356,000

b. $360,000

c. $308,000

d. $364,000

e. $372,000

Question 2. What is Jupiter's cost of goods sold?

a. $520,000

b. $464,000

c. $440,000

d. $400,000

e. $516,000

Question 3. What is Jupiter's cost of goods manufactured?

a. $536,000

b. $496,000

c. $480,000

d. $476,000

e. $512,000

Reference no: EM132598261

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