sales : $524,000

direct labor cost : $70,000

raw material purchases : $118,000

selling expenses : $140,000

Administrative expenses : $63,000

Actual manufacturing overhead costs : $80,000

inventories / beginning of year/ end of year

Raw material/ $7,000 /$15,000

work in process /$10,000 /$5,000

finished goods /$20,000 /$35,000

What is the Total Cost (cost statement) for Mason Company?

1. $265,000
2. $453,000
3. $524,000
4. $274,000

What is the Direct Material used for Mason Company?

1. $110,000
2. $95,000
3. $80,000
4. $125,000

What is the Cost of Goods Sold for Mason Company?

1. $250,000
2. $203,000
3. 274,000
4. 260,000

What is the Gross Margin for Mason Company?

1. $203,000
2. $274,000
3. $260,000
4. $250,000

What is the Income from Operations for Mason Company?

1. $71,000
2. $92,000
3. $83,000
4. $60,000