Question 24

Raw materials inventory, January 1	$20,000
Raw materials inventory, December 31	10,000
Work in process inventory, January 1	6,000
Work in process inventory, December 31	9,000
Finished goods inventory, January 1	16,000
Finished goods inventory, December 31	20,000
Raw materials purchases	400,000
Direct labor	200,000
Factory utilities	75,000
Indirect labor	45,000
Factory depreciation	180,000
Selling & administrative expenses	210,000

Direct materials used is:

Question 24 options:

$390,000.

$430,000.

$400,000.

$410,000.

Question 25

Raw materials inventory, January 1	$20,000
Raw materials inventory, December 31	10,000
Work in process inventory, January 1	6,000
Work in process inventory, December 31	9,000
Finished goods inventory, January 1	16,000
Finished goods inventory, December 31	20,000
Raw materials purchases	400,000
Direct labor	200,000
Factory utilities	75,000
Indirect labor	45,000
Factory depreciation	180,000
Selling & administrative expenses	210,000

Assume direct materials is $400,000. Total manufacturing costs equal:

Question 25 options:

$780,000.

$700,000.

$600,000.

$900,000.

Question 26

Raw materials inventory, January 1	$20,000
Raw materials inventory, December 31	10,000
Work in process inventory, January 1	6,000
Work in process inventory, December 31	9,000
Finished goods inventory, January 1	16,000
Finished goods inventory, December 31	20,000
Raw materials purchases	400,000
Direct labor	200,000
Factory utilities	75,000
Indirect labor	45,000
Factory depreciation	180,000
Selling & administrative expenses	210,000

Assume manufacturing costs is $850,000. Cost of goods manufactured equals:

Question 26 options:

$847,000.

$854,000.

$853,000.

$850,000.

Question 27

Raw materials inventory, January 1	$20,000
Raw materials inventory, December 31	10,000
Work in process inventory, January 1	6,000
Work in process inventory, December 31	9,000
Finished goods inventory, January 1	16,000
Finished goods inventory, December 31	20,000
Raw materials purchases	400,000
Direct labor	200,000
Factory utilities	75,000
Indirect labor	45,000
Factory depreciation	180,000
Selling & administrative expenses	210,000

Assume goods manufactured is $870,000. The cost of goods sold is:

Question 27 options:

$867,000.

$866,000.

$870,000.

$874,000.