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1

The following data (in thousands of dollars) have been taken from the accounting records of Davis Corporation for the just completed year.

Administrative expenses $ 600
Direct labor 800
Finished goods inventory, beginning 480
Finished goods inventory, ending 640
Manufacturing overhead 920
Purchases of raw materials 480
Raw materials inventory, beginning 160
Raw materials inventory, ending 280
Sales 3,960
Selling expenses 560
Work in process inventory, beginning 280
Work in process inventory, ending 200

The cost of the raw materials used in production during the year (in thousands of dollars) was:

A)$360.
B)$600.
C)$640.
D)$760.
2

The following data (in thousands of dollars) have been taken from the accounting records of Davis Corporation for the just completed year.

Administrative expenses $ 600
Direct labor 800
Finished goods inventory, beginning 480
Finished goods inventory, ending 640
Manufacturing overhead 920
Purchases of raw materials 480
Raw materials inventory, beginning 160
Raw materials inventory, ending 280
Sales 3,960
Selling expenses 560
Work in process inventory, beginning 280
Work in process inventory, ending 200

The cost of goods manufactured (finished) for the year (in thousands of dollars) was:

A)$2,000.
B)$2,080.
C)$2,160.
D)$2,360.
3

The following data (in thousands of dollars) have been taken from the accounting records of Davis Corporation for the just completed year.

Administrative expenses $ 600
Direct labor 800
Finished goods inventory, beginning 480
Finished goods inventory, ending 640
Manufacturing overhead 920
Purchases of raw materials 480
Raw materials inventory, beginning 160
Raw materials inventory, ending 280
Sales 3,960
Selling expenses 560
Work in process inventory, beginning 280
Work in process inventory, ending 200

The cost of goods sold for the year (in thousands of dollars) was:

A)$2,000.
B)$2,320.
C)$2,640.
D)$2,800.
4

4.The following data (in thousands of dollars) have been taken from the accounting records of Davis Corporation for the just completed year.

Administrative expenses $ 600
Direct labor 800
Finished goods inventory, beginning 280
Finished goods inventory, ending 640
Manufacturing overhead 920
Purchases of raw materials 480
Raw materials inventory, beginning 160
Raw materials inventory, ending 280
Sales 3,960
Selling expenses 560
Work in process inventory, beginning 280
Work in process inventory, ending 200

The net income for the year (in thousands of dollars) was:

A)$600.
B)$800.
C)$1,000.
D)$1,960.





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