29 Jun Selected data concerning operations of
Question
Selected data concerning operations of Cascade Manufacturing Company for the past fiscal year follow:
Raw materials used ……………………………………… $300,000
Total manufacturing costs charged to production during the year
(includes raw materials, direct labor, and manufacturing overhead
applied at a rate of 60 percent of direct labor costs) ……………… 681,000
Cost of goods available for sale……………………………… 826,000
Selling and general expenses……………………………….. 30,000
Inventories
Beginning Ending
Raw materials…………. $70,000 $ 80,000
Work-in-process……….. 85,000 30,000
Finished goods………… 90,000 110,000
Required
Determine each of the following:
Cost of raw materials purchased
Direct labor costs charged to production
Cost of goods manufactured
Cost of goods sold
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