Using $3,000,000 as the Total Manufacturing Costs, Compute the Cost

question 2

Multiple Choice

Using $3,000,000 as the total manufacturing costs, compute the cost of goods manufactured using the following information. $\begin{array}{lr}\text { Raw materials inventory, January 1 } & 20,000 \\\text { Raw materials inventory, December 31 } & 40,000 \\\text { Work in process, January 1 } & 18,000 \\\text { Work in process, December 31 } & 12,000 \\\text { Finished goods, January 1 } & 40,000 \\\text { Finished goods, December 31 } & 32,000 \\\text { Raw materials purchases } & 1,700,000\\\text { Direct labor } & 760,000 \\\text { Factory utilities } & 150,000 \\\text { Indirect labor } & 50,000 \\\text { Factory depreciation } & 400,000 \\\text { Operating expenses } & 420,000\end{array}$

• A)$3,014,000.
• B)$2,994,000.
• C)$3,006,000.
• D)$3,008,000.

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