?
|
1/1/00 |
12/31/00 |
|---|
Finished goods inventory |
$29,000 |
$39,000 |
Work in process inventory |
19,000 |
12,000 |
Raw materials inventory |
20,000 |
25,000 |
Actual costs incurred include: Purchases of raw materials, $70,000; Indirect labour, $6,000; Factory utilities, $5,000; Factory amortization, $4,000; Other factory costs, $9,000; Direct labour, $26,000; Selling expense, $11,000; Over- or underapplied overhead, $0. The cost of raw materials used in production would be:
