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Selected account balances for the year ended 31 December are provided below for Superior Company: Selling and administrative salaries E110,000 Insurance, factory 8,000 Utilities, factory

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Selected account balances for the year ended 31 December are provided below for Superior Company: Selling and administrative salaries E110,000 Insurance, factory 8,000 Utilities, factory 45,000 Purchases of raw materials 290,000 Indirect labour 60,000 Direct labour ? Advertising expense 80,000 Cleaning supplies, factory 7,000 Sales commissions 50,000 Rent, factory building 120,000 Maintenance, factory 30,000 90 Stock balances at the beginning and end of the year were as follows: Beginning of the year End of the year Raw materials E40,000 E10,000 Work in progress 7 35,000 Finished goods 50,000 The total manufacturing costs for the year were E683,000; the goods available for sale totalled 6740,000; and the cost of goods sold totalled E660,000

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