2. Selected data concerning the past fiscal year\'s operations (000\'s omitted)

Question

2. Selected data concerning the past fiscal year's operations (000's omitted) ot Kraig Fabricators are presented below Beginning Ending $ 170 130 180 Materials $180 100 200 Work in process Finished goods Other data: Direct materials used $730 Total manufacturing costs charged to production during the year (includes direct materials, direct labor, and factory overhead) Cost of goods available for sale Selling and general expenses 1,360 1,530 500 The cost of goods manufactured during the year was: a. $1,410 b. $1,330 c. $1,420. d. $1,470. Please show work

Explanation / Answer

2 ) Beginning work in process inventory $ 100

Add total manufacturing costs during the year $1,360

Total $1,460

Less ending work in process inventory (130)

Less Cost of goods manufactured during the year $1,330

3 )

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