Question - Entin Corporation reported the following data for the month of January:
inventories beginning ending
raw materials $32000 $38000
Work in process $11000 $17000
finished goods $45000 $47000
Additional information
raw materials purchases $65000
direct labor cost $88000
manufacturing overhead cost incurred $64000
indirect materials included in manufacturing overhead cost incurred $3000
manufacturing overhead cost applied to work in process $61000
1. The direct materials cost for January is:
$71,000
$56,000
$59,000
$65,000
2. The cost of goods manufactured for January is:
$202,000
$217,000
$214,000
$199,000
3. The adjusted cost of goods sold that appears on the income statement for January is:
$197,000
$200,000
$201,000
$199,000