41) Finished goods are listed on the statement of cost of goods manufactured.

42) All expenses are listed on the income statement of a manufacturer.

43) Classify each of the following as raw materials, direct labor, or overhead:



Raw Material

Direct Labor


Steel in making of cars




Salary of a supervisor




Wages of an employee producing desks




Lease payment for the building




Utilities for the building




Lug nuts for the wheels of the car







44) From the following information, calculate (a) cost of raw materials used and (b) total manufacturing costs.


Raw Materials Inventory, June 1$15,000

Raw Materials Inventory, June 3020,000


Finished Goods Inventory17,000

Direct Labor29,000

Raw Materials Purchased76,000


a. ________

b. ________

45) Calculate the (a) cost of raw materials used and (b) total manufacturing costs from the following information.


Beginning Raw Materials Inventory:$65,000

Ending Raw Materials Inventory:59,000


Beginning Finished Goods Inventory:28,000

Ending Finished Goods Inventory:23,000

Direct Labor:40,000

Raw Materials Purchased:83,000

Beginning Work-in-Process Inventory:16,000

Ending Work-in-Process Inventory:19,000


a. ________

b. ________


46) Calculate the (a) cost of goods manufactured from the following information.


Beginning Raw Materials Inventory:$63,000

Ending Raw Materials Inventory:58,000


Beginning Finished Goods Inventory:27,000

Ending Finished Goods Inventory:32,000

Direct Labor:42,000

Raw Materials Purchased:73,000

Beginning Work-in-Process Inventory:12,000

Ending Work-in-Process Inventory:15,000



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