Given the following information what is the amount

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Reference no: EM13580991

Given the following information, what is the amount of Materials Used (taken from the material storeroom and placed into production) ?

Inventory Balances at the Beginning and End of the Year

	1/1/2014	12/31/2014
Materials	$ 40,000	$ 50,000
Goods in Process	$ 25,000	$ 10,000
Finished Goods	$125,000	$175,000

Yearly totals for:

Material Purchases	$250,000
Direct Labor	$120,000
Factory Overhead	$200,000
Sales	$950,000
Sales Discounts	$ 20,000
Selling Expenses	$ 80,000
Administrative Expenses	$122,000
Interest Expense	$ 8,000
Income Tax Expense	$ 45,000

Reference no: EM13580991

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