Question
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials):
Selling expenses | $ | 218,000 | |||||||||||||||||||||||||||||||||||
Purchases of raw materials | $ | 266,000 | |||||||||||||||||||||||||||||||||||
Direct labor | ? | ||||||||||||||||||||||||||||||||||||
Administrative expenses | $ | 155,000 | |||||||||||||||||||||||||||||||||||
Manufacturing overhead applied to work in process | $ | 370,000 | |||||||||||||||||||||||||||||||||||
Actual manufacturing overhead cost | $ | 356,000 | |||||||||||||||||||||||||||||||||||
Inventory balances at the beginning and end of the year were as follows:
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