1
2 points
Lantana Company's accounting records reflect the following inventories:
December 31 January 1
Raw materials inventory $260,000 $310,000
Work in process inventory 290,000 150,000
Finished goods inventory 210,000 130,000
During the year, $770,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000.
The total raw materials available for use during the year for Lantana Company is
$820,000.
$1,940,000.
$900,000.
$1,080,000.