16. Which of the following is not a type of inventory held by a manufacturer? A. manufacturing inventory B. work in process inventory C. raw materials inventory D. finished goods inventory
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Selected financial information for Brookeville Manufacturing ispresented in the following table (000s omitted).
| Sales revenue | $4,800 |
| Purchases of direct materials | $480 |
| Direct labo | $500 |
| Manufacturing overhead | $710 |
| Operating expenses | $650 |
| Beginning raw materials inventory | $220 |
| Ending raw materials inventory | $180 |
| Beginning work in process inventory | $400 |
| Ending work in process inventory | $430 |
| Beginning finished goods inventory | $300 |
| Ending finished goods inventory | $240 |
What was the operating income?
| A. | $2,390 |
| B. | $4,800 |
| C. | $3,010 |
| D. | $4,150 |
The information below relates to Derby Manufacturing Company'soperations for a recent month. (Assume that all raw materials aredirect materials.):
Purchases of raw materials........................ | $91,000 | |
Direct labor cost........................................ | $122,000 | |
Selling costs (total).................................... | $42,000 | |
Administrative costs (total)....................... | $56,000 | |
Manufacturing overhead costs (total)....... | $340,000 | |
Raw materials inventory, beginning.......... | $22,000 | |
Work in process inventory, beginning....... | $27,000 | |
Finished goods inventory, beginning........ | $42,000 | |
Raw materials inventory, ending............... | $7,000 | |
Work in process inventory, ending............ | $35,000 | |
Finished goods inventory, ending............. | $15,000 |
What was Derby's cost of goods manufactured for the month?
| a. | $545,000 | |
| b. | $560,000 | |
| c. | $568,000 | |
| d. | $587,000 |
