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Analyzing Activity in Inventory Accounts Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow: Raw materials used $600,000 Total manufacturing

Analyzing Activity in Inventory Accounts Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow:

Raw materials used $600,000
Total manufacturing costs charged to production during the year(includes raw materials, direct labor, and manufacturing overheadapplied at a rate of 60 percent of direct labor costs) 1,362,000
Cost of goods available for sale 1,507,000
Selling and general expenses 60,000

Inventories
Beginning Ending
Raw materials $70,000 $80,000
Work-in-process 85,000 30,000
Finished goods 90,000 110,000

Determine each of the following: (a) Cost of raw materials purchased $Answer

(b) Direct labor costs charged to production $Answer

(c) Cost of goods manufactured $Answer

(d) Cost of goods sold $Answer

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