Solution-What was the cost of the raw materials used

What was the cost of the raw materials used

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Reference no: EM132660001

The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Sales $990
Raw materials inventory, beginning $ 40
Raw materials inventory, ending $ 70
Purchases of raw materials $120
Direct labour $200
Manufacturing overhead $230
Administrative expenses $150
Selling expenses $140
Work-in-process inventory, beginning $ 70
Work-in-process inventory, ending $ 50
Finished goods inventory, beginning $120
Finished goods inventory, ending $160

Problem 1: What was the cost (in thousands of $) of the raw materials used in production during the year?

Reference no: EM132660001

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What was the cost of the raw materials used

Reference no: EM132660001

Reference no: EM132660001

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