Question

Use the information below to answer the following question(s). Jupiter Inc. had the following activities in...

Use the information below to answer the following question(s).

Jupiter Inc. had the following activities in the year:

Direct materials balance:


Beginning inventory

$100,000

Purchases

308,000

Ending inventory

52,000

Direct manufacturing labour

80,000

Manufacturing overhead

60,000

Ending work in process inventory

20,000

Beginning work in process inventory

4,000

Ending finished goods inventory

80,000

Beginning finished goods inventory

120,000


1. What is Jupiter's cost of direct materials used during the year?

a. $356,000

b. $360,000

c. $308,000

d. $364,000

e. $372,000


2. What is Jupiter's cost of goods sold?

a. $520,000

b. $464,000

c. $440,000

d. $400,000

e. $516,000


3. What is Jupiter's cost of goods manufactured?

a. $536,000

b. $496,000

c. $480,000

d. $476,000

e. $512,000

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