Question
The following data (in thousands of dollars) have been taken from the accounting records of Karsen Corporation for the just completed year. Sales $1000 Raw
The following data (in thousands of dollars) have been taken from the accounting records of Karsen Corporation for the just completed year.
Sales $1000
Raw materials inventory, beginning $90
Raw materials inventory, ending $30
Purchases of raw materials $220
Direct labor $120
Manufacturing overhead $210
Administrative expenses $80
Selling expenses $20
Work in process inventory, beginning $80
Work in process inventory, ending $70
Finished goods inventory, beginning $90
Finished goods inventory, ending $140
Required: Calculate the net operating income for the year (in thousands of dollars)
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