Xia Company manufactures a single product. All raw materials used were direct materials. Current information for company follows:

Beginning raw materials inventory	$ 20,000
Ending raw materials inventory	23,000
Raw material purchases	97,000
Beginning work in process inventory	32,000
Ending work in process inventory	42,000
Direct labor	122,000
Total factory overhead	97,000
Beginning finished goods inventory	72,000
Ending finished goods inventory	52,000

The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are:

	Cost of Materials Used	Cost of Goods Manufactured	Cost of Goods Sold
Option A	$97,000	$303,000	$283,000
Option B	$100,000	$303,000	$323,000
Option C	$94,000	$323,000	$283,000
Option D	$94,000	$303,000	$323,000
Option E	$100,000	$323,000	$303,000

Multiple Choice

• Option B

• Option D

• Option C

• Option A

• Option E