2 3 Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any...

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2 3 Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: 4 5 Beginning inventories: h Finished goods $33,000 7 Estimated total manufacturing overhead at the beginning of the year $510,000 8 Estimated direct labor-hours at the beginning of the year 10,000 direct labor-hours 9 10 11 Results of operations: 12 13 14 Raw materials (all direct) requisitioned for use in production $162,000 15 Direct labor cost $567,000 16 Actual direct labor-hours 39,000 direct labor hours 17 Manufacturing overhead: 18 Indirect labor cost 19 Other manufacturing overhead costs incurred 3121,000 $451,000 201 Selling and administrative: 21 Selling and administrative salaries $263,000 22 Other selling and administrative expenses $299,000 23 Cost of goods manufactured 24 Sales revenue 25 Cost of goods sold (unadjusted) $1,371,000 $3,298,000 $1,302,000 26 21 Required: 28 a. What is the total manufacturing cost added to Work in Process during the year? 29 b. What is the cost of goods available for sale during the year? 30 c. What is the net operating income for the year? 31 2 3 Blasi Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: 4 5 Beginning inventories: h Finished goods $33,000 7 Estimated total manufacturing overhead at the beginning of the year $510,000 8 Estimated direct labor-hours at the beginning of the year 10,000 direct labor-hours 9 10 11 Results of operations: 12 13 14 Raw materials (all direct) requisitioned for use in production $162,000 15 Direct labor cost $567,000 16 Actual direct labor-hours 39,000 direct labor hours 17 Manufacturing overhead: 18 Indirect labor cost 19 Other manufacturing overhead costs incurred 3121,000 $451,000 201 Selling and administrative: 21 Selling and administrative salaries $263,000 22 Other selling and administrative expenses $299,000 23 Cost of goods manufactured 24 Sales revenue 25 Cost of goods sold (unadjusted) $1,371,000 $3,298,000 $1,302,000 26 21 Required: 28 a. What is the total manufacturing cost added to Work in Process during the year? 29 b. What is the cost of goods available for sale during the year? 30 c. What is the net operating income for the year? 31