' Safari File Edit View History Bookmarks Window Help 1 (9 [Eu >3 "3 Q 8 9 SunSep 18 10:13 PM ,9 (,3 (,1 (,3 Chapter 2 HW 0 Saved Help Save& Exit Submit You received partial credit in the previous attempt. View pre ous attempt 20 Required information [The following information applies to the questions displayed below. ] P n2 f3 t t t t , , a 0 Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the followrng Inventory balances at the - beginning and end of 20x1. -_ 0.64 Inventory Classification January 1, 20x1 December 31, 20x1 H points Raw material $ 55,000 $ 70,000 L Work in process 120,000 115,000 w Finished goods 140,000 165,000 eBook pm, During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: References Indirect material $ 11,000 Indirect labor 26,000 Depreciation on plant and equipment 100,000 " Utilities 23,000 Other 30,000 Sales revenue was $1,114,000 for the year. Selling and administrative expenses for the year amounted to $110,000 The firm's tax rate is 40 percent C67 % Commerce, locality-promotion ads in business le} ,. -- ~ 5:5 0 -, 5 18 /