Laflin Company reported the following year-end information: $\begin{array}{l} \text { Beginning work in process inventory } & \$ 1,080,000 \\ \text { Beginning raw materials inventory } & 300,000 \\ \text { Ending work in process inventory } & 900,000 \\ \text { Ending raw materials inventory } & 480,000 \\ \text { Raw materials purchased } & 960,000 \\ \text { Direct labor } & 800,000\\ \text { Manufacturing overhead }&720,000 \end{array}$ Laflin Company's cost of goods manufactured for the year is

A) $2,300,000. B) $2,480,000. C) $2,120,000. D) $2,660,000. A) $2,300,000. B) $2,480,000. C) $2,120,000. D) $2,660,000.

Assuming that the direct materials used is $1,400,000, compute the total manufacturing costs using the following information. $\begin{array}{lll} \text { Raw materials inventory, January } 1 & \$ 20,000 \\ \text { Raw materials inventory, December } 31 & 40,000 \\ \text { Work in process, January } 1 & 18,000 \\ \text { Work in process, December } 31 & 12,000 \\ \text { Finished goods, January 1 } & 40,000 \\ \text { Finished goods, December } 31 & 32,000\\ \text { Raw materials purchases } & 1,400,000 \\ \text { Direct labor } & 560,000 \\ \text { Factory utilities } & 150,000 \\ \text { Indirect labor } & 50,000 \\ \text { Factory depreciation } & 400,000 \\ \text { Operating expenses } & 420,000 \end{array}$

A) $2,560,000. B) $2,554,000. C) $2,360,000. D) $2,980,000. A) $2,560,000. B) $2,554,000. C) $2,360,000. D) $2,980,000.

Dolan Company's accounting records reflect the following inventories: $\begin{array}{lrr}&\text { Dec. } 31,2013&\text { Dec. } 31,2012\\ \text { Raw materials inventory } & \$ 310,000 & \$ 260,000 \\ \text { Work in process inventory } & 300,000 & 160,000 \\ \text { Finished goods inventory } & 190,000 & 150,000 \end{array}$ During 2013, $600,000 of raw materials were purchased, direct labor costs amounted to $500,000, and manufacturing overhead incurred was $480,000. -If Dolan Company's cost of goods manufactured for 2013 amounted to $1,390,000, its cost of goods sold for the year is

A) $1,500,000. B) $1,250,000. C) $1,350,000. D) $1,430,000. A) $1,500,000. B) $1,250,000. C) $1,350,000. D) $1,430,000.

Ogleby Inc.'s accounting records reflect the following inventories: $\begin{array}{lrr}&\text { Dec. 31, } 2012&\text { Dec. 31, } 2013\\ \text { Raw materials inventory } & \$ 120,000 & \$ 96,000 \\ \text { Work in process inventory } & 156,000 & 174,000 \\ \text { Finished qoods inventory } & 150,000 & 138,000 \end{array}$ During 2013, Ogleby purchased $840,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000. - How much would Ogleby Manufacturing report as cost of goods manufactured for 2013?

A) $1,164,000 B) $1,224,000 C) $1,218,000 D) $1,188,000 A) $1,164,000 B) $1,224,000 C) $1,218,000 D) $1,188,000

A) only appears on merchandising companies' income statements. B) only appears on manufacturing companies' income statements. C) appears on both manufacturing and merchandising companies' income statements. D) is calculated exactly the same for merchandising and manufacturing companies. A) only appears on merchandising companies' income statements. B) only appears on manufacturing companies' income statements. C) appears on both manufacturing and merchandising companies' income statements. D) is calculated exactly the same for merchandising and manufacturing companies.