Cost Accounting for Wilson Production
Part 2: The following information has been taken from the cost records of Wilson Production, Inc., for the past year:
Raw material used in production $326
Total manufacturing costs charged to production during the year (includes direct material, direct labor, and overhead equal to 60% of direct labor cost) 686
Cost of goods available for sale 826
Selling and Administrative expenses 25
Inventories Beginning Ending
Raw Material $75 $ 85
Work in Process 80 30
Finished Goods 90 110
Answer the following questions. Show your work
a. The cost of raw material purchased during the year was
b. Direct labor cost charged to production during the year was