Assume the following information from a schedule of cost of goods manufactured:
Beginning raw materials inventory$ 7,000Purchases of raw materials$ 60,000Ending raw materials inventory$ 5,600
What is the raw materials used in production?
Multiple Choice
$47,400
$67,060
$81,060
$61,400
Assume the following information from a schedule of cost of goods manufactured:
Beginning work in process inventory$ 30,000Total manufacturing costs added to production$ 200,000Ending work in process inventory$ 46,000
What is the cost of goods manufactured?
Multiple Choice
$237,000
$184,000
$276,000
$187,000