The following costs and inventory data were taken from the accounts of Cullumber Company for 2027. (Assume all raw materials used were direct materials.)
January 1, 2027
December 31, 2027
Inventories:
Raw materials
Work in process
Finished goods
Costs incurred:
Raw materials purchases
Direct labor
Factory rent
Factory utilities
Indirect materials
Indirect labor
Operating expenses
$ 10,240
19,200
20,480
$ 8,960
16,640
15,360
$ 125,440
53,760
10,240
12,800
7,680
11,520
21,760