The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current year. Sales Selling expenses $1,980 280 Factory overhead 460 Direct labor 400 Administrative expenses 300 Purchases of direct materials 240 Finished goods inventory, beginning 240 Finished goods inventory, ending 320 Materials inventory, beginning 80 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? 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