27. The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current year.

Sales	$1,980
Selling expenses	280
Manufacturing overhead	460
Direct labor	400
Administrative expenses	300
Purchases of direct materials	240
Finished goods inventory, beginning	240
Finished goods inventory, ending	320
Direct materials inventory, beginning	80
Direct materials inventory, ending	140
Work in process inventory, beginning	140
Work in process inventory, ending	100

Required:

a. What was the cost of the direct materials used in production during the year? b. What was the cost of goods manufactured for the year? c. What was the cost of goods sold for the year? d. What was the net income for the year?

Present all calculations in thousands of dollars.