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(15 points) The following data have been taken from the accounting records of Rayburn Corporation for the current year. Factory overhead $640 Direct labor 400
(15 points) The following data have been taken from the accounting records of Rayburn Corporation for the current year. Factory overhead $640 Direct labor 400 Purchases of raw materials 420 Finished goods inventory, beginning 420 Finished goods inventory, ending 560 Raw materials inventory, beginning 60 Raw materials inventory, ending Work in process inventory, beginning 410 Work in process inventory, ending 200 140 What was the cost of the raw materials used in production during the year? $ What was the cost of goods manufactured (finished) for the year? $ What was the cost of goods sold for the year? $
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