The data below are for Julian Mark Company.

Raw Materials Inventory Finished Goods Inventory

------------------------------------------------ -------------------------------------------------

Begin 140,000 | 400,000 Begin 79,000 | 673,000

350,000 | 52,000 700,000 |

------------------------------------------------ -------------------------------------------------

End 38,000 | End 106,000 |

Work-in-Process Inventory Manufacturing Overhead

------------------------------------------------ -------------------------------------------------

Begin 25,000 | 700,000 49,000 | 249,000

400,000 | 52,000 |

249,000 | 60,000 |

172,000 | 72,000 |

------------------------------------------------

End 146,000 |

What is represented by the $52,000 credit to Raw Materials Inventory?

• Direct materials used
• Completed products transferred to the finished goods warehouse
• Indirect materials used
• Amount paid for factory electricity