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Oriole Company's accounting records reflect the following inventories: Dec. 31, 2022 Dec. 31, 2021 Raw materials inventory $330000 $270000 Work in process inventory 300000 160000
Oriole Company's accounting records reflect the following inventories:
Dec. 31, 2022 | Dec. 31, 2021 | ||
---|---|---|---|
Raw materials inventory | $330000 | $270000 | |
Work in process inventory | 300000 | 160000 | |
Finished goods inventory | 190000 | 150000 |
During 2022, $820000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. (Assume that all raw materials used were direct materials.) The total raw materials available for use during 2022 for Oriole Company is
$760000.
$1090000.
$1150000.
$680000.
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