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The following data (in thousands of dollars) have been taken from the accounting records of ABC corporation for the current year. Analyse the data and

The following data (in thousands of dollars) have been taken from the accounting records of ABC corporation for the current year. Analyse the data and answer the following question

Sales

$3000

Selling Expenses

300

Manufacturing overhead

610

Direct labour

550

Administrative expenses

420

Purchases of raw materials

400

Finished goods inventory, beginning

410

Finished goods inventory ending

470

Raw material inventory beginning

210

Raw material inventory ending

260

Work in process inventory beginning

270

Work in process inventory ending

150

What is the cost of raw material used in production during the year (in thousands of dollars?

What is the manufacturing cost during the year (in thousands of dollars)?

What is the cost of goods manufactured (finished) for the year (in thousands of dollars)?

What is the cost of goods sold for the year (in thousands of dollars)?

What is the net income for the year (in thousands of dollars)?

The following data (in thousands of dollars) have been taken from the accounting records of ABC corporation for the current year. Analyse the data and answer the following question

Sales

$3000

Selling Expenses

300

Manufacturing overhead

610

Direct labour

550

Administrative expenses

420

Purchases of raw materials

400

Finished goods inventory, beginning

410

Finished goods inventory ending

470

Raw material inventory beginning

210

Raw material inventory ending

260

Work in process inventory beginning

270

Work in process inventory ending

150

What is the cost of raw material used in production during the year (in thousands of dollars?

What is the manufacturing cost during the year (in thousands of dollars)?

What is the cost of goods manufactured (finished) for the year (in thousands of dollars)?

What is the cost of goods sold for the year (in thousands of dollars)?

What is the net income for the year (in thousands of dollars)?

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