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Swifty Corporation's accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $320000 $260000 Work in process inventory 300000 160000
Swifty Corporation's accounting records reflect the following inventories:
Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $320000 $260000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000
During 2020, $840000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000.
The total raw materials available for use during 2020 for Swifty Corporation is
$1160000.
$700000.
$1100000.
$780000.
Dec. 31, 2020 | Dec. 31, 2019 | ||
Raw materials inventory | $320000 | $260000 | |
Work in process inventory | 300000 | 160000 | |
Finished goods inventory | 190000 | 150000 |
During 2020, $840000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000.
The total raw materials available for use during 2020 for Swifty Corporation is
$1160000. |
$700000. |
$1100000. |
$780000. |
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