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The following data refers to the most recent fiscal year for Sterritt Company. Amounts are in thousands of dollars. Cost of goods manufactured for
The following data refers to the most recent fiscal year for Sterritt Company. Amounts are in thousands of dollars. Cost of goods manufactured for the year. Cost of goods sold Direct materials inventory, July 1 Direct labor ($000) $ 3,800 4,250 2,170 Direct materials inventory, June 30 Direct material purchases Finished goods inventory, July 1 Finished goods inventory, June 30 Manufacturing overhead Sales revenue Work-in-process inventory, June 30 Required: Find the following amounts. Note: Enter your answers in thousands. a. Direct materials used for the year b. Gross margin for the year c. Total manufacturing costs for the year d. Work-in-process inventory, July 1 215 223 575 500 324 690 6,050 61
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