The Following Data in Thousands of Dollars Have Been Taken

Essay

The following data in thousands of dollars have been taken from the accounting records of Rayburn Corporation for the current year.
Required: Present all calculations in thousands of dollars.
a What was the cost of the direct materials used in production during the year?
b What was the cost of goods manufactured for the year?
c What was the cost of goods sold for the year?
d What was the net income for the year? Present all calculations in thousands of dollars.