Reference no: EM132796083
The accounting records of NCT Company revealed the following information:
Raw materials purchases 300,000
Raw Materials, 1/1 100,000
Raw materials, 12/31 340,000
Direct labor 125,000
Manufacturing overhead 360,000
Work-in-process inventory, 1/1 50,000
Finished-goods inventory, 1/1 189,000
Work-in-process inventory, 12/31 73,000
Finished-goods inventory, 12/31 140,000
Problem 1: NCT's Cost of Goods Manufactured is:
a. $522,000.
b. $571,000.
c. $519,000.
d. $568,000.
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