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Please answer question 1 to 4! Thank you! Required information [The following information applies to the questions displayed below.) Selected data concerning the past year's
Please answer question 1 to 4! Thank you!
Required information [The following information applies to the questions displayed below.) Selected data concerning the past year's operations of the Ozarks Manufacturing Company are as follows Inventories Raw material Work in proces Finished goods Beginning Ending $71,000 81,000 30,000 110,000 80,000 90,000 Other data: Direct material used $326,000 Total manufacturing costs charged to production during the year (includes direct material, direct labor, and manufacturing overhead applied at a rate of 60% of direct- labor cost) Cost of goods available for sale Selling and administrative expenses 686,000 826,000 31,500 Required 1. What was the cost of raw materials purchased during the year? Cost of raw materials purchasedStep by Step Solution
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