6/ Calculate the cost of goods sold using the following information:

Direct materials	$	299,300
Direct labor		132,800
Factory overhead costs		264,800
General and administrative expenses		86,300
Selling expenses		49,600
Work in Process inventory, January 1		119,300
Work in Process inventory, December 31		126,700
Finished goods inventory, January 1		232,900
Finished goods inventory, December 31		239,500

Multiple Choice

$682,900.

$696,900.

$689,500.

$775,800.

$704,300.

7/ Using the information below, calculate cost of goods sold for the period:

Sales revenues for the period	$	1,324,000
Operating expenses for the period		259,000
Finished Goods Inventory, January 1		56,000
Finished Goods Inventory, December 31		61,000
Cost of goods manufactured for the period		560,000

Multiple Choice

$814,000.

$809,000.

$510,000.

$555,000.

$388,000.