Question

Using the following data for Caro Corporation how many raw materials were used in production this year?

Sales	$745,000
Direct Labor Cost	$120,000
Raw material purchases	$362,000
Selling expense	$63,000
Administrative expenses	$98200
Manufacturing overhead applied to work in process	$237,000
Actual Manufacturing overhead costs	$241,100

Inventories	beginning of year	End of year
Raw materials	$9,000	$8,000
work in process	$23,000	$15,000
finished goods	$38,000	$35,000

a. $345,000

b. $379,000

c. $363,000

d. $362,000

Using the following data for Xylo Corporation how much was the cost of goods manufactured for the year?

sales	$963,000
direct labor cost	$220,700
raw material purchases	$128,000
selling expenses	$94,000
administrative expenses	$75,100
manufacturingoverhead applied to work in process	$300,000
actual manufacturing overhead costs	$324,000

inventories	beginning of year	end of year
raw materials	$4000	$10,000
work in process	$16,000	$19,000
finished goods	$44,000	$32,000

a) $642,700

b)$672,700

c)$651,700

d)$639,700

Answer 1

1		$
	Beginning inventory of raw material	9,000
	Add: Purchases of raw material	362,000
	Less: Ending inventory of raw material	(8,000)
	Cost of raw material used for the production	363,000
	c. $ 363,000
2	a. Raw material	$	$
	Beginning inventory of raw material	4,000
	Add: Purchases of raw material	128,000
	Less: Ending inventory of raw material	(10,000)
	Raw materials connsumed		122,000
	b. Direct Labor		220,700
	c.manufacturingoverhead applied to work in process		300,000
	d. Beginning inventory of work in process		16,000
	e. Ending inventory of work in process (Less)		(19,000)
	Cost of goods manufactured		639,700
	d. $ 639,700