Selected data concerning the past fiscal year's operations (000 omitted) of the Televans Manufacturing Company are presented below.
Inventories
|
Beginning
|
Ending
|
|
Direct materials
|
$75
|
$ 85
|
|
Work-in-process
|
80
|
30
|
|
Finished goods
|
90
|
110
|
|
Other data:
|
|
|
|
Direct materials used
|
|
|
|
Total manufacturing costs charged to production during the year
(includes direct materials, direct
labor, and factory overhead applied
at a rate of 60% of direct labor cost)
|
|
326
686
|
|
Cost of goods available for sale
|
|
826
|
|
Selling and general expenses
|
|
25
|
1. The cost of direct materials purchased during the year amounted to
(a) $411 (d) $336
(b) $360 (e) Some amount other than those shown above
(c) $316
2. Direct labor costs charged to production during the year amounted to
(a) $135 (d) $216
(b) $225 (e) Some amount other than those shown above
(c) $360
3. The cost of goods manufactured during the year was
(a) $636 (d) $716
(b) $766 (e) Some amount other than those shown above
(c) $736
4. The cost of goods sold during the year was
(a) $736 (d) $805
(b) $716 (e) Some amount other than those shown above
(c) $691