The following data (in thousands of dollars) have been taken from the accounting records of Rayburn Corporation for the current year. Sales $1,980 280 460 400 300 240 240 Selling expenses Manufacturing overhead Direct labor Administrative expenses Purchases of direct materials Finished goods inventory, beginning Finished goods inventory, ending Direct materials inventory, beginning Direct materials inventory, ending Work in process inventory, beginning Work in process inventory, ending 320 80 140 140 100 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 320 80 Finished goods inventory, ending Direct materials inventory, beginning Direct materials inventory, ending Work in process inventory, beginning Work in process inventory, ending 140 140 100 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