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Richards Company manufactures a single product. All raw materials used were direct materials. Current information...

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Accounting

Richards Company manufactures a single product. All raw materials used were direct materials. Current information for the company follows:
Beginning raw materials inventory $ 28,000
Ending raw materials inventory 30,000
Raw material purchases 108,000
Beginning work in process inventory 58,000
Ending work in process inventory 43,000
Direct labor 148,000
Total factory overhead 78,000
Beginning finished goods inventory 73,000
Ending finished goods inventory 63,000
The company's cost of direct materials used, cost of goods manufactured and cost of goods sold are:
Cost of Materials Used Cost of Goods Manufactured Cost of Goods Sold
Option A $108,000 $347,000 $337,000
Option B $110,000 $347,000 $357,000
Option C $106,000 $317,000 $337,000
Option D $106,000 $347,000 $357,000
Option E $110,000 $317,000 $347,000

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