1. Bodin Company manufactures finger splints for kids who get tendonitis from playing video games. The firm had the following inventories at the beginning and end of the month of January.

	January 1				January 31
Finished goods		$	125,000			$	117,000
Work in process			237,000				251,000
Raw material			133,000				124,000

The following additional data pertain to January operations.

Raw material purchased	$	190,000
Direct labor		350,000
Actual manufacturing overhead		170,000
Actual selling and administrative expenses		120,000

The company applies manufacturing overhead at the rate of 60 percent of direct-labor cost. Any overapplied or underapplied manufacturing overhead is accumulated until the end of the year.

a. Compute the cost of goods sold for January

2. Selected data concerning the past years operations of the Ozarks Manufacturing Company are as follows:

Inventories Beginning Ending Raw material $ 71,000 $ 81,000 Work in process 80,000 30,000 Finished goods 90,000 100,000

Other data:

Direct material used $ 334,000 Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct-labor cost) 686,000 Cost of goods available for sale 826,000 Selling and administrative expenses 31,000

a. What was the cost of raw materials purchased during the year?

3. Crunchem Cereal Company incurred the following actual costs during 20x1.

Direct material used $ 275,000 Direct labor 120,000 Manufacturing overhead 252,000

The firms predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows:

Raw material $ 30,000 Work in process 39,000 Finished goods 42,000

Each of these inventory balances was 10 percent higher at the end of the year.

a. What was the cost of goods sold for the year?

4. Selected data concerning the past years operations of the Ozarks Manufacturing Company are as follows:

Inventories Beginning Ending Raw material $ 71,000 $ 81,000 Work in process 80,000 30,000 Finished goods 90,000 110,000

Other data:

Direct material used $ 326,000 Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct-labor cost) 686,000 Cost of goods available for sale 826,000 Selling and administrative expenses 31,500

a. What was the cost of raw materials purchased during the year?