Question
2 The following data (in thousands of dollars) have been taken from the accounting records of Woolworth Corporation for the just completed year. Sales ......................................................................
2
The following data (in thousands of dollars) have been taken from the accounting records of Woolworth Corporation for the just completed year.
Sales ...................................................................... $880
Raw materials inventory, beginning ..................... $20
Raw materials inventory, ending ........................... $30
Purchases of raw materials .................................... $150
Direct labor ............................................................ $180
Page 1 of 4
Manufacturing overhead ....................................... $230
Administrative expenses ....................................... $100
Selling expenses .................................................... $130
Work in process inventory, beginning .................. $80
Work in process inventory, ending ....................... $30
Finished goods inventory, beginning .................... $120
Finished goods inventory, ending ......................... $100
Required:
Using the information given above, calculate the total cost of goods manufactured (in
thousands of dollars) for the year.
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