Selected data concerning the past year's operations of the Del Valle Manufacturing Company are
as follows:
Type
Beginning
Ending
Inventories
Inventories
Raw material
$ 51,000
$ 81,000
Work in process
80,000
30,000
Finished goods
90,000
100,000
Other data:
Direct material used
Total manufacturing costs charged to production during the year
(includes direct material, direct labor, and manufacturing overhead
applied at a rate of 60% of direct-labor cost)
Cost of goods available for sale
Selling and administrative expenses
$ 318,000
686,000
826,000
30,500
Required:
1. What was the cost of raw materials purchased during the year?
Cost of raw materials purchased