Question
Use the following to answer questions 1-4 . Karmana Corporation for the just completed year. (In thousands) Sales ................................................................................................ $950 ............. Raw materials inventory, beginning
Use the following to answer questions 1-4 . Karmana Corporation for the just completed year. (In thousands)
Sales ................................................................................................ $950 .............
Raw materials inventory, beginning ................................ $10 ............................
Raw materials inventory, ending ................................ $30 .................................
Purchases of raw materials ................................................................ $120 ...........
Direct labor ................................................................ $180 ..................................
Manufacturing overhead ................................................................ $230 .............
. Administrative expenses ................................................................ $100 ..............
Selling expenses ................................................................ $140 ...........................
Work in process inventory, beginning ................................ $70 .........................
Work in process inventory, ending ................................ $40 ..............................
Finished goods inventory, beginning ................................ $100 ...........................
Finished goods inventory, ending ................................ $80
1. The cost of the raw materials used in production during the year (in thousands of dollars) was:
2. The cost of goods manufactured (finished) for the year (in thousands of dollars) was:
3. The cost of goods sold for the year (in thousands of dollars) was:
4. The net operating income for the year (in thousands of dollars) was:
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