TB MC Qu. 14-140 (Algo) Richards Company manufactures...

Richards Company manufactures a single product. All raw materials used were direct materials. Current information for the company follows:

Beginning raw materials inventory	$ 19,000
Ending raw materials inventory	21,000
Raw material purchases	99,000
Beginning work in process inventory	49,000
Ending work in process inventory	34,000
Direct labor	139,000
Total factory overhead	69,000
Beginning finished goods inventory	64,000
Ending finished goods inventory	54,000

The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are:

	Cost of Materials Used	Cost of Goods Manufactured	Cost of Goods Sold
Option A	$99,000	$320,000	$310,000
Option B	$101,000	$320,000	$330,000
Option C	$97,000	$290,000	$310,000
Option D	$97,000	$320,000	$330,000
Option E	$101,000	$290,000	$320,000

Multiple Choice

• Option A

• Option B

• Option C

• Option D

• Option E