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Crane Company's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $210000 $160000 Work in process inventory 300000 160000
Crane Company's accounting records reflect the following inventories:
Dec. 31, 2020 | Dec. 31, 2019 | ||
Raw materials inventory | $210000 | $160000 | |
Work in process inventory | 300000 | 160000 | |
Finished goods inventory | 190000 | 150000 |
During 2020, $700000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. The total raw materials available for use during 2020 for Crane Company is
$910000.
$650000.
$860000.
$560000.
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