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Dolan Company's accounting records reflect the following inventories: Dec.31, 2013 Dec.31, 2012 Raw materials inventory $310,000 $260,000 Work in process inventory 300,000 160,000 Finished goods
Dolan Company's accounting records reflect the following inventories:
Dec.31, 2013 | Dec.31, 2012 | |
Raw materials inventory | $310,000 | $260,000 |
Work in process inventory | 300,000 | 160,000 |
Finished goods inventory | 190,000 | 150,000 |
During 2013, $600,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. Dolan Company's total manufacturing costs incurred in 2013 amounted to
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