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Nives Corporation reported the following data for the month of January: Inventories: Raw materials............ Beginning $36,000 Ending $25,000 Work in process.. $16,000 $22,000 Finished goods.
Nives Corporation reported the following data for the month of January: Inventories: Raw materials............ Beginning $36,000 Ending $25,000 Work in process.. $16,000 $22,000 Finished goods. $37,000 $40,000 Additional information: Sales...... $280,000 Raw materials purchases. $66,000 Direct labor cost........... $35,000 Manufacturing overhead cost. $86,000 Selling expense..... $24,000 Administrative expense.. $53,000 The net operating income for January was: $14,000 $16,000 $91,000 $82,000
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