The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current year.

Sales	$1,980
Selling expenses	280
Manufacturing overhead	460
Direct labor	400
Administrative expenses	300
Purchases of direct materials	240
Finished goods inventory, beginning	240
Finished goods inventory, ending	320
Direct materials inventory, beginning	80
Direct materials inventory, ending	140
Work in process inventory, beginning	140
Work in process inventory, ending	100

Required:

Enter all amounts in thousands of dollars.

a. What was the cost of the direct materials used in production during the year? $fill in the blank 1 thousand

b. What was the cost of goods manufactured for the year? $fill in the blank 2 thousand

c. What was the cost of goods sold for the year? $fill in the blank 3 thousand

d. What was the net income for the year? $fill in the blank 4 thousand

The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current year. 400 Sales $1,980 Selling expenses 280 Manufacturing overhead 460 Direct labor Administrative expenses 300 Purchases of direct materials 240 Finished goods inventory, 240 beginning Finished goods inventory 320 ending Direct materials inventory, 80 beginning Direct materials inventory, 140 ending Work in process inventory, 140 beginning Work in process inventory, 100 ending Required: Enter all amounts in thousands of dollars. a. What was the cost of the direct materials used in production during the year? thousand b. What was the cost of goods manufactured for the year? thousand c. What was the cost of goods sold for the year? thousand d. What was the net income for the year? thousand