Question
DS-59499 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses $
DS-59499 company provided the following data for the end of the year (all raw materials are used in production as direct materials): Selling expenses $ 199,000 Purchases of raw materials $ 233,000 Direct labor $ 20,000 Administrative expenses $ 141,000 Manufacturing overhead applied to work in process $ 353,000 Actual manufacturing overhead cost $ 318,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 60,000 $ 38,000 Work in process $ 25,000 $ 33,000 Finished goods $ ? $ 44,000 For the year, the cost of goods available for sale was $694,000 and the net operating income as reported in its income statement income was $56,000. The DS-59499 companys underapplied or overapplied overhead was closed to Cost of Goods Sold. How much was the DS-59499 company's sales revenue for the year?
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