Transcribed Image Text: Multiple Choice $1,047,000 $1,051,000 $1,055,000 $1,059,000 Transcribed Image Text: Save & Exi GIGRIC314 company provided the following data for the end of the year (all raw materials

Transcribed Image Text: Multiple Choice
$1,047,000
$1,051,000
$1,055,000
$1,059,000 Transcribed Image Text:
Save & Exi
GIGRIC314 company provided the following data for the end of the year (all raw materials are used in production as direct materials):
Selling expenses
Purchases of raw materials
$211,000
$257,000
Direct labor
$ 20,000
Administrative expenses
$153,000
Manufacturing overhead applied to work in process $365,000
Actual manufacturing overhead cost
$342,000
GIGRIC314’s inventory balances at the beginning and end of the year were as follows:
(ID#76735)
Beginning of
End of
Year
Year
Raw materials
60,000
$ 38,000
Work in
$
25,000
$ 33,000
process
Finished goods $
$ 44,000
For the year, the cost of goods available for sale was $718,000 and the net operating inkome as reported in its income statement income was $44,000.
The GIGRIC314 company’s underapplied or overapplied overhead was closed to Cost of Goods Sold.
Q: How much was the GIGRIC314 company’s sales revenue for the year?

Do you need us to help you on this or any other assignment?


Make an Order Now